IRS Requirement for Auto Lenders
Auto lenders are required to provide interest information due to a new tax deduction.
This comes after the passage of a significant bill that includes a car loan tax deduction.
- Auto lenders must comply with new reporting requirements.
- A new tax deduction is available for car loans.
No specific details on the bill's name were provided, but it was referred to as "One Big Beautiful Bill".
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Author's summary: Auto lenders must provide interest information for a new tax deduction.
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