Phoenix Tax Services & Bookkeeping, Inc.

01/09/2026

01/05/2026

Treasury, IRS Clarify New Car Loan Interest Tax Deduction

The Treasury and IRS issued guidance on a new tax break allowing taxpayers to deduct up to $10,000 a year in interest on car loans taken out after Dec. 31, 2024 for new, U.S.-assembled vehicles purchased for personal use. The deduction is available whether you itemize or take the standard deduction. The guidance clarifies which vehicles, loans, and taxpayers qualify, and outlines new reporting requirements for lenders to help taxpayers claim the deduction.

El Tesoro y el IRS aclaran la nueva deducción fiscal por intereses de préstamos para autos.

El Tesoro y el IRS emitieron lineamientos sobre un nuevo beneficio fiscal que permite deducir hasta $10,000 al año en intereses de préstamos para autos calificados comprados después del 31 de diciembre de 2024. La deducción aplica tanto para quienes detallan como para quienes toman la deducción estándar e incluye reglas de elegibilidad y requisitos de reporte para los prestamistas.

IR-2025-129, Dec. 31, 2025 — The Department of the Treasury and the Internal Revenue Service today provided guidance on the “No Tax on Car Loan Interest” provision enacted under the One, Big, Beautiful Bill.

01/02/2026

Just a reminder!

https://www.irs.gov/newsroom/one-big-beautiful-bill-act-tax-deductions-for-working-americans-and-seniors

12/31/2025

Grateful for our clients, proud of the year we’ve completed, and excited for what’s coming next.

Here’s to a positive finish to this year and a strong, successful 2026 ahead. Thank you for being part of our journey!

10/28/2025

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