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GOBankingRates
GOBankingRates
Cynthia Measom

IRS: Here’s How You Can Save Up To $10K on Your 2026 Taxes

IRS Donald Trump GOBankingRates GoBankingRatescom
hamzaturkkol / Getty Images/iStockphoto

The IRS and the U.S. Treasury announced a new tax deduction that lets some buyers deduct thousands of dollars per year in car loan interest.

This deduction comes from the “No Tax on Car Loan Interest” provision in President Donald Trump’s One Big Beautiful Bill Act (OBBBA). However, it only applies to certain vehicle loans taken out after Dec. 31, 2024. Find out who qualifies and how to claim the deduction below.

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