The starting annual income ranges for each tax rate increased based on inflation with each income range going up roughly 2.8% from tax year 2024.
For single taxpayers and married individuals filing separately, the deduction is rising to $15,000 — up $400 from 2024.
“For married couples filing jointly, the standard deduction rises to $30,000, an increase of $800 from tax year 2024,” the IRS said in its announcement. “For heads of households, the standard ...