New Standard Deductions For 2025. The standard deduction is indexed for inflation annually. The irs announced its annual inflation adjustments tuesday for tax year 2025, setting marginal rates and bumping up standard deductions, earned income tax credits,.
22, 2024, the irs announced the annual inflation adjustments for 2025. In its announcement on tuesday, the agency raised the income thresholds for each bracket, which applies to tax year 2025 for returns filed in 2026.
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