IRS releases new tax brackets, standard deduction

The Internal Revenue Service on Tuesday released details about the new income tax brackets for 2025.

The IRS also released updated numbers on several other tax markers, including the standard deduction, which rose $400 from last year, up to $15,000.

“For married couples filing jointly, the standard deduction rises to $30,000, an increase of $800 from tax year 2024,” the IRS said in its announcement. “For heads of households, the standard deduction will be $22,500 for tax year 2024, an increase of $600 from the amount for tax year 2024.”