Standard Tax Deduction 2025
Standard Tax Deduction 2025. 75,000 for taxpayers opting for the new tax regime (section 115bac). The tax brackets, standard deduction, and the capital gains tax cutoff point for single and married filing jointly filing statuses will go up in 2025.
Here’s a look at the changes unveiled by the irs that will take effect for the 2025 tax year and returns that are filed in 2026. For heads of households, the standard deduction will be $22,500 for tax year 2025 โ up $600 from 2024.