IRS releases tax inflation adjustments for tax year 2025

Tax Rates Updates

Marginal rates. For tax year 2025, the top tax rate remains 37% for individual single taxpayers with incomes greater than $626,350 ($751,600 for married couples filing jointly). The other rates are:

10% for incomes $11,925 or less ($23,850 or less for married couples filing jointly).

35% for incomes over $250,525 ($501,050 for married couples filing jointly).

32% for incomes over $197,300 ($394,600 for married couples filing jointly).

24% for incomes over $103,350 ($206,700 for married couples filing jointly).

22% for incomes over $48,475 ($96,950 for married couples filing jointly).

12% for incomes over $11,925 ($23,850 for married couples filing jointly).

Standard Deductions

Standard deductions. For single taxpayers and married individuals filing separately for tax year 2025, the standard deduction rises to $15,000 for 2025, an increase of $400 from 2024. For married couples filing jointly, the standard deduction rises to $30,000, an increase of $800 from tax year 2024. For heads of households, the standard deduction will be $22,500 for tax year 2025, an increase of $600 from the amount for tax year 2024.

For More Information:

https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025

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