IRS Reveals New Tax Rates, Deductions for 2025

News October 22, 2024 at 12:20 PM
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What You Need To Know

  • The Internal Revenue Service has announced its annual inflation adjustments for tax year 2025.
  • The tax year 2025 adjustments generally apply to income tax returns to be filed starting tax season 2026.
  • More than 60 provisions in the tax code have been updated, but some key amounts remain flat.
The IRS building in Washington