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Tax season 2025 is here. Here are answers to common questions that crop up as April 15 approaches. ... Here are the 2024 tax brackets for married couples filing joint returns: ... Tax Day 2025 ...
The exemption amount for married couples filing jointly increased to $133,300 and begins to phase out at $1,218,700, up $6,800 and $62,400 compared with tax year 2023, the IRS said.
The IRS on Tuesday announced its new inflation-adjusted tax brackets for 2025, ... the new threshold for the 10% tax bracket for married couples filing jointly will rise to $23,850 in 2025, a 2.8% ...
According to the Tax Foundation, if the 2017 Tax Cuts and Jobs Act expires as scheduled in 2025, the 2026 tax brackets could reflect higher tax rates. For example, taxpayers in bracket 2 could ...
The standard deduction will go up to $15,000 for 2025 tax returns — up $400 from 2024 − for single taxpayers and married people filing separately.. The standard deduction climbs to $30,000 − ...
The tax brackets for 2025 apply to taxes due in 2026. ... 2024-2025 federal income tax brackets and rates. ... Married couples filing jointly: $30,000 ...
In 2024, the standard deduction is $14,600 for single filers and $29,200 for married taxpayers filing jointly. In 2025, the deduction will increase almost 3% to $15,000 for single taxpayers and ...
Tax brackets and other provisions are likely to be adjusted higher by 2.8% for the 2025 tax year, according to Bloomberg Tax and financial information services provider Wolters Kluwer, which both ...
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