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The Independent UK
The Independent UK
World
Wyatte Grantham-Philips

IRS ups typical tax deductions for 2025 - here is what it means for your bill from Uncle Sam

IRS
The IRS has announced the new standard deductions for taxes for 2025 - (Copyright 2021 The Associated Press. All rights reserved.)

U.S. taxpayers will again see higher standard deductions for 2025, allowing them to shield more of their money from taxation on future returns.

The Internal Revenue Service detailed the increases in its annual inflation adjustments announced Tuesday. For single taxpayers and married individuals filing separately in tax year 2025, the standard deduction is rising to $15,000 — up $400 from 2024.

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