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Latest Blog Posts

Stay updated on the latest tax news and tips. Read more.

Tax Law New IRS Guidance on the Car Loan Interest Deduction

The IRS has released proposed regulations about deducting interest on new car loans for made‑in‑America vehicles purchased after 12/31/24. The guidance outlines eligibility rules, lender reporting requirements and the annual $10,000 deduction limit.

Tax Law Tax-Free Tips & Overtime: What Workers Need to Know

New IRS rules eliminate federal income tax on tips and allow a deduction for the overtime portion above regular pay. Workers can benefit from tax-free tips and a deduction of up to $12,500 ($25,000 joint) for qualified overtime from 2025–2028.

Tax News Upcoming IRS Changes to Refunds & Tax Payments

This mandate will transition most payments to and from the federal government to electronic methods starting with the 2026 filing season. Refunds, tax payments, and other federal transactions will move toward faster with more secure digital options.