Millions of U.S. workers who earn tips and overtime pay may be eligible for a federal tax break when they file their 2025 ...

President Donald Trump’s mega tax-and-spending cuts bill, signed into law last week, contains plenty of new tax provisions, the contours of which Americans are still digesting.

If you itemize your tax deductions and like to contribute financially to the causes and groups that you support, do it before the end of the year to best reduce your taxable income for 2024.

New standard deduction for 2025. The standard deduction in 2025 will rise to $30,000 for married couples filing jointly, a roughly 2.7% increase from the current tax year's $29,200.

For heads of households, the standard deduction will be $22,500 for tax year 2025 — up $600 from 2024. About 90% of taxpayers claim the standard deduction now and do not itemize deductions.

Here are the IRS 2024 tax brackets and standard deduction increases. By Dominic Genetti, Staff writer Dec 16, 2024. Tax season is coming soon, here's what you need to know. alfexe/Getty Images.

The IRS on Tuesday announced new inflation-adjusted tax brackets for the coming year, setting the standard deduction for a single filer at $15,000 and for a married couple at $30,000 for the first ...