A new deduction based on income lets you save money on a new auto purchase, but how much you'll save will vary state by state. Here's the savings breakdown.

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 ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

In October, Ford's U.S. new vehicle sales increased by a narrow 1.6% to 175,584 units sold, supported by the sales of its ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...