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Car Interest Reporting and Deductions

The Department of the Treasury and the Internal Revenue Service at year end provided guidance on the “No Tax on Car Loan Interest” provision enacted under the One, Big, Beautiful Bill.
Upcoming

Intermediate

DATE

Thursday, December 3, 2026
11:00 am - 12:30 pm

INSTRUCTOR

Deborah Crawford

FORMAT

Webinar

$299.00 or 1 Token

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Accounting/Reporting
  • Reporting
  • Consumer Lender/Retail Banker
  • Deposit Operations Manager/Specialist
  • Loan Closer
  • Loan Operations Manager/Specialist

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The proposed regulations issued at year end relate to a new deduction for interest paid on vehicle loans incurred after Dec. 31, 2024, to purchase new made-in-America vehicles for personal use. This new tax benefit applies to both taxpayers who take the standard deduction and those who itemize deductions. 

Learn What lenders need to know and do to report interest in this transitional period.

What You'll Learn

Highlights Include:

  • Providing rules relating to new vehicles eligible for the deduction, including for determining if the final assembly of a vehicle occurred in the United States.
  • Providing rules for determining which vehicle loans qualify and the amount of interest paid on a loan that may be deductible.
  • Providing rules for determining if a new vehicle is purchased for personal use.
  • Identifying taxpayers who can take the deduction and clarifying the $10,000 annual deduction limit.
  • Which lenders and other interest recipients are required to report and the time and manner for this reporting.
  • What information must be included on the form provided to the IRS and to taxpayers.

Who Should Attend

Bank and credit union operations personnel responsible for IRS reporting.
Deborah Crawford

Instructor Bio

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.

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