The IRS on Oct. 22 unveiled the new federal income tax brackets for 2025.
Each bracket was changed, including the top one. Single taxpayers making more than $636,350, or couples making more than $751,600, will be subject to a 37 percent tax rate. That’s up from $609,350, and $731,200, respectively.
Here are the other new brackets, with the old income threshold in parentheses:
35 percent tax for singles making more than $250,525 ($243,725) and married couples making more than $501,050 ($487,450)
32 percent tax for singles making more than $197,300 ($191,950) and married couples making more than $394,600 ($383,900)
24 percent tax for singles making more than $103,350 ($100,525) and married couples making more than $206,700 $201,050()
22 percent tax for singles with incomes over $48,475 ($47,150) and married couples making more than $96,950 ($94,300)
12 percent tax for singles with incomes over $11,925 ($11,600) and married couples making more than $23,850 ($23,200)
10 percent tax for singles with incomes of $11,925 or less ($11,600 or less) and married couples making $23,850 or less ($23,200 or less)
The IRS also said it is increasing the standard deduction for individuals by $400 and for married couples by $800….