2025 Standard Deductions And Tax Brackets . 2025 2025 capital gains tax. New 2025 income tax brackets and a higher standard deduction may mean tax cuts for many americans.
The internal revenue service (irs) adjusts tax brackets for inflation each year, and because inflation remains high, itโs possible you could fall into a lower bracket. So, that’s why your 2025 standard deduction is higher than it was for the 2023 tax year.
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