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Top irs.gov News

IRS Increases Standard Business Mileage Rate for 2026

IRS · United States

IRS Increases Standard Business Mileage Rate for 2026

Coverage: 2 sources

The IRS is raising the standard mileage rate for business use by 2.5 cents per mile in 2026. Here's what that means for taxpayers who use their vehicles for work, medical trips or charitable purposes.See the Story

Drivers May Now Qualify for a New Car Loan Interest Tax Break

IRS · United States

Drivers May Now Qualify for a New Car Loan Interest Tax Break

100% Center coverage: 1 sources

Wheeling, W.Va (WTRF) - Buying a new car may come with an unexpected bonus at tax time this year under the One, Big, Beautiful Bill. The Treasury Department and IRS have issued new guidance allowing taxpayers to deduct interest paid on certain car loans. The deduction applies to loans taken out after December 31st, 2024, [...]See the Story

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