The 2025 IRS Tax Brackets Are Here. See Where You Land.

The IRS has recently announced adjustments for the 2025 tax year, which include new tax brackets and updates to the standard deduction. Here’s a summary of the key changes:

2025 Tax Brackets

For 2025, the top tax rate remains at 37% for single filers with incomes over $626,350 and for married couples filing jointly with incomes over $751,600. Other tax brackets are as follows:

• 35% for incomes over $250,525 (single) or $501,050 (joint).

  
  

• 32% for incomes over $197,300 (single) or $394,600 (joint).

  
  

• 24% for incomes over $103,350 (single) or $206,700 (joint).

  
  

• 22% for incomes over $48,475 (single) or $96,950 (joint).

  
  

• 12% for incomes over $11,925 (single) or $23,850 (joint).

  
  

• 10% for incomes below those thresholds​.

  
  

Standard Deduction Increases

The standard deduction will also see a boost:

• $15,000 for single filers and married individuals filing separately (up $400 from 2024).

  
  

• $30,000 for married couples filing jointly (up $800).

  
  

• $22,500 for heads of household (up $600)​.

  
  

Additional Adjustments

Some other key changes include:

• The Earned Income Tax Credit for taxpayers with three or more children rises to $8,046.

  
  

• The Alternative Minimum Tax (AMT) exemption for married couples filing jointly increases to $137,000.​

  
  

• For healthcare, the Health Savings Account (HSA) contribution limit will increase to $4,300 for individuals and $8,550 for family coverage​.

  
  

These adjustments are based on inflation, which has cooled compared to the past few years, leading to more moderate increases across various provisions​.

If you're looking to take advantage of these changes or have any specific questions on how these updates impact your filing, it might be helpful to consult a tax professional. Give TBS a call at (316) 285-0125 or schedule a consultation online.