IRS Unveils New Federal Income Tax Brackets For 2025
The IRS on Oct. 22 unveiled the new federal income tax brackets for 2025.
As The Epoch Times’ Zachary Stieber reports, each bracket was changed, including the top one.
Single taxpayers making more than $636,350, or couples making more than $751,600, will be subject to a 37 percent tax rate.
That’s up from $609,350, and $731,200, respectively.
Here are the other new brackets, with the old income threshold in parentheses:
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35 percent tax for singles making more than $250,525 ($243,725) and married couples making more than $501,050 ($487,450)
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32 percent tax for singles making more than $197,300 ($191,950) and married couples making more than $394,600 ($383,900)
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24 percent tax for singles making more than $103,350 ($100,525) and married couples making more than $206,700 $201,050()
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22 percent tax for singles with incomes over $48,475 ($47,150) and married couples making more than $96,950 ($94,300)
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12 percent tax for singles with incomes over $11,925 ($11,600) and married couples making more than $23,850 ($23,200)
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10 percent tax for singles with incomes of $11,925 or less ($11,600 or less) and married couples making $23,850 or less ($23,200 or less)
The IRS also said it is increasing the standard deduction for individuals by $400 to $15,000, and for married couples by $800 to $30,000.
Tyler Durden Tue, 10/22/2024 – 20:30
Source: https://freedombunker.com/2024/10/22/irs-unveils-new-federal-income-tax-brackets-for-2025/
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