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IRS sets higher standard deduction, new tax brackets
The IRS released 2025 federal income tax brackets for 2024 income. What will yours be?
When filing taxes next year on 2024 income, the standard deduction will increase for married couples and for single taxpayers.
IRS Announces Higher Standard Deductions for Taxpayers in 2025
While the top tax rate of 37 percent remains unchanged, it will now apply to individuals earning more than $626,350 for single taxpayers in 2025, up from $609,350 in 2024.
IRS releases new 2025 income tax brackets, standard deductions: Where do you fall?
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.
2h
on MSN
IRS Changes Tax Rules for 2025: Full List of Who's Impacted and How
In 2026, for the tax year 2025, the standard deduction got a $400 boost, making it $15,000 for single filers. Married couples ...
5h
on MSN
Taxpayers will get bigger standard deductions in 2025, but with smaller boosts than recent years
U.S. taxpayers will again see higher standard deductions for 2025, allowing them to shield more of their money from taxation ...
5h
The IRS reveals your 2025 tax brackets as Trump’s tax cuts are set to expire
The standard deduction will be $15,000 for individuals next year, and $30,000 for married couples filing jointly.
cfodive
16m
AICPA asks IRS for fresh cannabis tax guidance
The potential reclassification of marijuana as a Class III controlled substance has raised questions about tax benefits ...
8h
What the 2025 Tax Brackets Mean for Your Money
The higher standard deduction and new income ranges for each tax bracket mean that someone who earned the same income would ...
20h
on MSN
IRS Feared 'Trump' Stimulus Checks Broke Law, Emails Reveal
IRS officials were concerned Economic Impact Payments that included Trump's name could have breached federal law.
1d
Atlanta Attorney Pleads Guilty in $1.3 Billion Tax Fraud Scheme
A Georgia man pleaded guilty to obstructing the Internal Revenue Service related to his participation in the promotion of abusive syndicated conservation easement tax shelters, the Justice Department ...
2d
IRS warns of charity scams following hurricanes, provides tools to verify
In the aftermath of Hurricanes Milton and Helene, the Internal Revenue Service cautioned taxpayers of scammers who use fake ...
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