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2. IRS announces higher standard deduction, new tax ... - AOL

   www.aol.com/irs-announces-higher-standard...

   For heads of households, the standard deduction will be $22,500 for tax year 2025 — up $600 from 2024. About 90% of taxpayers claim the standard deduction now and do not itemize deductions.

3. 5 Ways To Pay Less in Taxes With the New 2025 Tax ... - AOL

   www.aol.com/5-ways-pay-less-taxes-180009235.html

   The IRS makes changes to federal tax brackets and the standard deduction to account for inflation each year, which could affect how much you pay in taxes. And it recently released new tax brackets ...

4. The 2025 tax brackets are here. How much will you owe? - AOL

   www.aol.com/finance/2025-tax-brackets-much-owe...

   The IRS just released its inflation-adjusted tax brackets for 2025 — and it’s the smallest increase in four years. Income thresholds for each tax bracket will rise by about 2.8% in the new ...

5. State and local tax deduction - Wikipedia

   en.wikipedia.org/wiki/State_and_local_tax_deduction

   The deduction disproportionately benefits wealthy and upper-middle class taxpayers living in areas with comparatively high state and property taxes. [2] [3] [4] The Tax Cuts and Jobs Act of 2017 signed into law by President Donald Trump put a $10,000 cap on the SALT deduction for the years 2018–2025. [5]

6. Rate schedule (federal income tax) - Wikipedia

   en.wikipedia.org/wiki/Rate_schedule_(federal...

   The origin of the current rate schedules is the Internal Revenue Code of 1986 (IRC), [2] [3] which is separately published as Title 26 of the United States Code. [4] With that law, the U.S. Congress created four types of rate tables, all of which are based on a taxpayer's filing status (e.g., "married individuals filing joint returns," "heads of households").

7. Tax deduction - Wikipedia

   en.wikipedia.org/wiki/Tax_deduction

   A tax deduction or benefit is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both reduce taxable ...

8. Unicap - Wikipedia

   en.wikipedia.org/wiki/Unicap

   The "uniform capitalization rules" or UNICAP rules were essentially a codification of the result of case of Commissioner v.Idaho Power Co., 418 U.S. 1 (1974) The UNICAP rules require a taxpayer to capitalize all direct and indirect costs that they incur in the production of real or tangible personal property that are allocable to that property.

9. Some might see a bigger 2024 tax refund after inflation ...

   www.aol.com/finance/might-see-bigger-2024-tax...

   The tax bracket ranges are increasing by 6.9% on average for the 2023 tax year, according to the National Association of Tax Professionals. The standard deduction is rising 6.9% or 7.2%, depending ...