2024 Tax Brackets: The IRS has revealed the new federal income tax brackets for 2025, adjusted for inflation. The top tax rate of 37% will apply to individuals earning over $626,350 and married couples filing jointly with income over $751,600. Other bracket thresholds have also increased, with the 35% rate starting at $250,525 for single filers and $501,050 for couples.
In addition, the standard deduction will rise to $30,000 for married couples and $15,000 for single taxpayers in 2025. These adjustments will affect returns filed in 2026. Without congressional action, tax cuts from 2017 are set to expire after 2025, potentially increasing tax rates.
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