IRS announces new tax brackets and deductions based on inflation rate
Americans have a better idea of the taxes they’ll be paying in 2025 thanks to new standard deductions and income tax brackets announced by the IRS. These annual changes are based on what’s been the hottest topic in economics for a few years now: inflation.
Opinions expressed by Forbes Contributors are their own. Robert W. Wood is a tax lawyer focusing on taxes and litigation. The ...
In 2026, for the tax year 2025, the standard deduction got a $400 boost, making it $15,000 for single filers. Married couples ...
The IRS makes such adjustments for each tax year to account for inflation, which has recently been on a downward trend.
Treasury Secretary Janet Yellen touted increased enforcement of tax laws by the IRS as helping to close the budget deficit by ...
Both federal income tax brackets and the standard deduction were raised for 2024. The higher amounts will apply to your 2024 ...
On Wednesday in Abuja, a court ruled that criminal charges against Gambaryan, a Binance executive who previously served as an ...
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