President Donald Trump's fiscal reform, passed in July of this year, adjusted the standard deduction for the 2025 tax year to $15,750. For heads of household, it will be $23,625, while for couples filing jointly, the amount rises to $31,500. Likewise, this year's tax brackets are as follows: 10% for single people earning $11,925 and $23,850 for married couples. 12% for income from $11,926 for single filers and $23,200 for couples.
Federal income tax brackets and the standard deduction are about to look a little bit different in the US. The Internal Revenue Service announced changes to the tax code on Thursday, driven by both inflation adjustments and President Donald Trump's "Big Beautiful Bill." The standard deduction for married couples filing jointly is set to increase to $32,200, a $700 increase from the $31,500 deduction this year.
