2025-21091Notice

Agency Information Collection Activities; Comment Request on Vehicle Loan Interest Statement

Published Date: 11/26/2025

Notice

Summary

The IRS wants your thoughts on a form that shows how much interest you paid on a vehicle loan. This affects anyone who borrows money to buy a car and needs to report interest for taxes. You’ve got until January 26, 2026, to share your ideas—no cost changes yet, just making sure the form is clear and easy to use.

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Reporting burden on vehicle loan holders

Businesses or other for-profit organizations that receive interest on specified passenger vehicle loans must file information returns to the IRS and furnish Form 1098-VLI to payers. The notice estimates 8,000,000 responses, about 15 minutes per response, totaling 2,000,000 annual burden hours and identifies this as a revision to an approved collection (OMB No. 1545-2334).

Vehicle loan interest statements for borrowers

If you paid interest on a vehicle loan, lenders will furnish you a Form 1098-VLI under IRC section 6050AA showing interest you paid during the calendar year. The form is meant to help you report or deduct the proper amount of vehicle loan interest when filing taxes.

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Key Dates

Published Date
Comments Due
11/26/2025
1/26/2026

Department and Agencies

Department
Independent Agency
Agency
Treasury Department
Internal Revenue Service
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