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Finanse publiczne · 02/01/2026

IRS Proposes Regulations on Car Loan Interest Deduction and Information Reporting Requirements

The Internal Revenue Service (IRS) has proposed new regulations allowing taxpayers to deduct up to $10,000 of interest on qualified passenger vehicle loans, as well as new information reporting requirements for individuals receiving $600 or more in interest on such loans, with applicable penalties for non-compliance. A public hearing on the proposed regulations is scheduled to take place.

Source: Federal Register — Department of the TreasuryOpen original release →