The Internal Revenue Services on Tuesday has released the updated federal income tax brackets for the 2025 tax year, with notable changes compared to 2024. These new brackets reflect increases in income thresholds for taxpayers, adjusting with the inflation rates. Below is a comparison of the 2024 and 2025 brackets across the two filing sections - single and married couples filing jointly.
2025 & 2024 Tax Rates For Single Filers Compared The IRS has increased the lowest tax threshold for single filers, i.e. the 10% slab, to $11,925. For the year 2024, the slab was kept at $11,600. Meanwhile, the 37% income slab, the highest, will be applied for incomes with $626,351. Previously, it was $609,350. Here's a detailed comparison 2025 & 2024 Tax Rates For Married Couples ComparedFor married couples filing jointly the tax slab for 2025 - for the filing year 2026 - has been kept at $23,850. In 2024, it was $23,200. The highest slab of 37% has been kept for those with incomes of $751,601 or above, as opposed to $731,200 in 2024.Here's a detailed comparison: 2024 and 2025 Standard Deductions 2024 Standard Deduction RatesSingle filers: $14,600Married couples filing jointly: $29,200Heads of households: $21,900 2025 Standard Deduction RatesSingle filers: $15,000Married couples filing jointly: $30,000Heads of households: $22,500 2024 and 2025 Allowances 2024 Allowances Alternative Minimum Tax (AMT) Exemption:Single filers: $81,300Married filing jointly: $126,500 Earned Income Tax Credit (EITC):Maximum for three or more children: $7,830 Qualified Transportation Fringe Benefit:Monthly limit: $315 Health Flexible Spending Arrangement (FSA):Contribution limit: $3,200Carryover limit: $640 2025 Allowances Alternative Minimum Tax (AMT) Exemption:Single filers: $88,100Married filing jointly: $137,000 Earned Income Tax Credit (EITC):Maximum for three or more children: $8,046Qualified Transportation Fringe Benefit:Monthly limit: $325 Health Flexible Spending Arrangement (FSA):Contribution limit: $3,300Carryover limit: $6601You may also like
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