The IRS has issued proposed regulations for the temporary car loan interest deduction enacted under the new tax law.

Taxpayers who buy a new car assembled in the U.S. may be able to deduct up to $10,000 from their taxable income beginning in 2025. To help sort out the details, the IRS is rolling out additional ...

This week, the Senate passed its version of President Donald Trump's tax and spending bill, dubbed the One Big Beautiful Bill Act in Trump's signature nomenclature. As with most modern spending bills, ...