For single taxpayers and married individuals filing separately in tax year 2025, the standard deduction is rising to $15,000 - up $400 from 2024. For couples filing jointly, the standard deduction will be $30,000 for 2025, an $800 jump from the year prior. The IRS makes adjustments annually to account for inflation, which has shown a downward trend recently, yet Americans continue to experience specific price pressures.
While taxpayers will again see higher standard deductions for 2025, the increases announced Tuesday are less than those seen in recent years. For example, the IRS raised single filers' standard deduction by $750 between the 2023 and 2024 tax years – a notable increase compared to the just $400 rise for 2025. This highlights a shift in adjustments that taxpayers can anticipate moving forward.
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