The Internal Revenue Service on Tuesday told auto lenders what they need to do to comply with the new interest reporting requirement for 2025 vehicle purchases. The tax change is part of the One Big Beautiful Bill Act (OBBBA) signed into law on July 4, but it retroactively covers car loans to Jan. 1. IRS […] The post IRS Issues Guidance for Auto Lenders on New Tax Deduction appeared first on New Jersey Business & Industry Association.
