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IRS GuideWire October 21, 2025

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Issue Number:    Notice-2025-57

Inside This Issue
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Notice 2025-57 [ [link removed] ] provides transitional guidance for returns relating to certain interest on specified passenger vehicle loans received in a trade or business from individuals that are required to be filed under new section 6050AA as enacted by section 70203 of Public Law 119-21, 139 Stat. 72, 176 (July 4, 2025), commonly known as the One, Big, Beautiful Bill Act (OBBBA).  To ensure efficient administration of this new provision, this notice provides that recipients of such interest may satisfy the reporting obligations under section 6050AA for such interest received on a specified passenger vehicle loan in 2025 by making a statement available to the individual indicating the total amount of interest received in calendar year 2025 on a specified passenger vehicle loan.

*Notice 2025-57 will be in IRB: 2025-45, dated: November 03, 2025.*

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