- The IRS has unveiled higher federal tax brackets for 2025 to adjust for inflation.
- The standard deduction will increase to $30,000 for married couples filing together and $15,000 for single taxpayers.
- There are also changes to the long-term capital gains brackets, estate tax exemption, child tax credit eligibility and more.
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Federal tax brackets for 2025
Federal income tax brackets show how much you owe on each part of your “taxable income,” which you calculate by subtracting the greater of the standard or itemized deductions from your adjusted gross income.
Higher standard deduction
The standard deduction will also increase in 2025, rising to $30,000 for married couples filing jointly, up from $29,200 in 2024. Starting in 2025, single filers can claim $15,000, a bump from $14,600.
Trump’s tax cuts also included higher standard deductions, which will sunset after 2025 if Congress doesn’t extend that tax break.
