For tax year 2025, the exemption amount for unmarried individuals will increase to $88,100 ($68,650 for married individuals filing separately) and begins to phase out at $626,350. For married couples filing jointly, the exemption amount increases to $137,000 and begins to phase out at $1,252,700.

Today the Internal Revenue Service announced increased to the federal income tax brackets and standard deduction for 2025. If your salary remains the same but you fall into a lower tax bracket next year, this could increase your paycheck starting in January.

The Internal Revenue Service (IRS) on Tuesday announced higher standard deductions for taxpayers in 2025 as part of its annual adjustments to accommodate inflation. The announcement signals a slight reprieve for taxpayers,

The IRS has adjusted tax brackets and dozens of other provisions for inflation. Here's how that will impact your taxes.

The IRS has announced the annual inflation adjustments for the year 2025, including tax rate schedules, tax tables and cost-of-living adjustments.

The standard deduction will rise to $15,000 for an individual or $30,000 for a married couple. The IRS on Tuesday announced new inflation-adjusted tax brackets for the coming year, setting the standard deduction for a single filer at $15,000 and for a married couple at $30,000 for the first time.

The standard deduction will now be $15,000 for 2025, an increase of $400 from 2024. For married couples filing jointly, the deduction will be $30,000, up $800 from 2024. For heads of households, the standard deduction will be $22,500, up from $21,900 in 2024.

U.S. taxpayers will again see higher standard deductions for 2025, allowing them to shield more of their money from taxation on future returns. The Internal Revenue Service detailed the increases in its annual inflation adjustments announced Tuesday.