Remember, these adjustments apply to income tax returns filed in 2026 for tax year 2025. Take a look at them below. 2025 Marginal Tax Brackets. For the tax year 2025, here's a breakdown of the tax rates from the lowest rate to the highest:
10% Tax Rate: This is for single individuals with incomes of $11,925 or less and married couples filing jointly with incomes of $23,850 or less.
12% Tax Rate: This applies to incomes over $11,926 for single individuals and over $23,851 for married couples filing jointly.
22% Tax Rate: For singles earning more than $48-476 and married couples filing jointly earning over $96,951.
24% Tax Rate: This rate is for single individuals with incomes above $103,351 and married couples filing jointly with incomes over $206,701. 32% Tax Rate: This rate applies if you're single and earn over $197,301 or part of a married couple earning more than $394,601.
35% Tax Rate: This rate applies to singles with incomes above $250,526 and married couples filing jointly with incomes over $501,051.
37% Top Tax Rate: The highest rate applies to single taxpayers earning more than $626,351 and married couples filing jointly with incomes exceeding $751,601. 2024
The new standard deduction for married couples filing jointly will rise to $30,000 and for single taxpayers and married individuals filing separately, the standard deduction increases to $15,000 for 2025. For heads of households, the standard deduction will be $22,500.
The new IRS limit for 2025 FSA contributions is $3,300.
Taxpayers can give up to $19,000 each in gifts in 2025 without paying taxes.
The IRS will exempt up to $13.99 million from the estate tax.
