IRS Unveils New Federal Income Tax Brackets for 2025

The IRS on Oct. 22 unveiled the new federal income tax brackets for 2025. 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: 35 percent tax for singles making more than $250,525 ($243,725) and married couples making more than $501,050 ($487,450) 32 percent tax for singles making more than $197,300 ($191,950) and married couples making more than $394,600 ($383,900) 24 percent tax for singles making more than $103,350 ($100,525) and married couples making more than $206,700 $201,050() 22 percent tax for singles with incomes over $48,475 ($47,150) and married couples making more than $96,950 ($94,300) 12 percent tax for singles with incomes over $11,925 ($11,600) and married couples making more than $23,850 ($23,200) 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, and for married couples by $800....