Here Are the New IRS Tax Brackets and Standard Deduction for 2025.

The Internal Revenue Service has announced the new tax brackets and standard deduction for 2025, with adjustments for inflation. The changes mean that individuals may owe slightly less in taxes, with the top federal income-tax bracket starting at $626,350 for individuals and $751,600 for married couples. Not all tax parameters receive inflation adjustments, and the 2017 Tax Cuts and Jobs Act may impact tax planning for individuals in 2025. Additionally, the standard deduction has increased to $15,000 for individuals and $30,000 for married couples filing jointly. [Extracted from the article]