2025 IRS tax brackets and standard deductions increased by 2.8% to combat inflation.
The IRS has announced updated tax brackets and higher standard deductions for 2025. Income thresholds will rise by about 2.8%, the smallest increase in recent years. The standard deduction will increase to $15,000 for single filers and $30,000 for married couples, helping reduce taxable income. These adjustments aim to protect taxpayers from inflation and prevent tax bracket creep.
October 22, 2024
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