{"id":117260,"date":"2024-10-23T01:29:47","date_gmt":"2024-10-22T18:29:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=117260"},"modified":"2024-10-23T01:29:47","modified_gmt":"2024-10-22T18:29:47","slug":"irs-has-announced-its-new-2025-tax-brackets-heres-what-to-know","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=117260","title":{"rendered":"IRS has announced its new 2025 tax brackets. Here&#8217;s what to know."},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"article-0\">\n<figure class=\"embed embed--type-video embed--type-content_video is-video embed--float-none embed--size-medium is-hero\" data-ads=\"{\" extrawordcount=\"\">\n<div class=\"embed__content-wrapper\">\n<link rel=\"preload\" as=\"image\" href=\"https:\/\/assets2.cbsnewsstatic.com\/hub\/i\/r\/2024\/09\/13\/9ee230e4-2d9c-4a8f-97f7-47c73757cb48\/thumbnail\/1280x720\/911a81dbcc69c0191188189cd289a136\/cordes.jpg?v=b241b87adbbb7f0a227ed35b96d0cefa\"\/><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" style=\"position:absolute;width:0;height:0\"><defs><symbol id=\"player-icon-pause\" viewbox=\"0 0 32 32\"><path d=\"M4 4h10v24h-10zM18 4h10v24h-10z\"\/><\/symbol><symbol id=\"player-icon-play\" viewbox=\"0 0 32 32\"><path d=\"M6 4l20 12-20 12z\"\/><\/symbol><symbol id=\"player-icon-close\" viewbox=\"0 0 32 32\"><line stroke-width=\"6\" x1=\"3\" y1=\"3\" x2=\"29\" y2=\"29\"\/><line stroke-width=\"6\" x1=\"29\" y1=\"3\" x2=\"3\" y2=\"29\"\/><\/symbol><symbol id=\"player-icon-fullscreen\" viewbox=\"0 0 32 32\"><path d=\"M32 0h-13l5 5-6 6 3 3 6-6 5 5z\"\/><path d=\"M32 32v-13l-5 5-6-6-3 3 6 6-5 5z\"\/><path d=\"M0 32h13l-5-5 6-6-3-3-6 6-5-5z\"\/><path d=\"M0 0v13l5-5 6 6 3-3-6-6 5-5z\"\/><\/symbol><symbol id=\"player-icon-drag\" viewbox=\"0 0 40 55\"><g fill=\"#f5f5f5\"><circle cx=\"5\" cy=\"5\" r=\"5\"\/><circle cx=\"20\" cy=\"5\" r=\"5\"\/><circle cx=\"35\" cy=\"5\" r=\"5\"\/><circle cx=\"5\" cy=\"20\" r=\"5\"\/><circle cx=\"20\" cy=\"20\" r=\"5\"\/><circle cx=\"35\" cy=\"20\" r=\"5\"\/><circle cx=\"5\" cy=\"35\" r=\"5\"\/><circle cx=\"20\" cy=\"35\" r=\"5\"\/><circle cx=\"35\" cy=\"35\" r=\"5\"\/><circle cx=\"5\" cy=\"50\" r=\"5\"\/><circle cx=\"20\" cy=\"50\" r=\"5\"\/><circle cx=\"35\" cy=\"50\" r=\"5\"\/><\/g><\/symbol><\/defs><\/svg><\/p>\n<div class=\"embed__sticky-content lazyload\" data-component=\"viewability\" data-viewability-options=\"true\">\n<div class=\"player-overlay__container  player-overlay--draggable \" data-theme=\"default\">\n<p>\n                  <svg class=\"player-overlay--icon-grid\"><use xlink:href=\"#player-icon-drag\"\/><\/svg><span class=\"player-overlay__title\">Harris and Trump push for Child Tax Credit hike <\/span><\/p>\n<p>        <button class=\"player-overlay__button player-overlay__button--close\" data-target=\"\" aria-label=\"Disable small player\"><br \/>\n          <svg class=\"player-overlay__button--icon player-overlay__button--icon-close\"><use xlink:href=\"#player-icon-close\"\/><\/svg><\/button><\/p>\n<p>  <iframe data-src=\"https:\/\/www.cbsnews.com\/embed\/video\/?v=b241b87adbbb7f0a227ed35b96d0cefa1729621761&amp;usprivacy=null#vVgLb9s4Ev4rgoD6gEto623JC2PPsZNusN0k16Q9YOPCoCjK5kUviJLtNPV%2FvxlKfm6v7d621xQWNeQMh5xvXnrRaV3lRUKf9UFV1vxcF3KcJwktpAgTrg9imkigRnwpGLzCQD4Bg36uL0XEc33woouKp1IfPL7o1XOBa5Z5BPMigqFhszCKOSc8jmPiRJ5HaMB8Yoa%2B5URm7HAew9q0WL%2Fl8TVyWJfVmyUT799xGT89vV86vy%2FXdxe%2F2%2F%2BcVb865b9SWJ2XYi6yy0hUIs%2BApZZAlEk9h%2FGClqWQhGYRgfOkBQnzakGKWi5InJeELUQCM3RNWMlBAFmIJw7clajwtPovil0Ddu0B2TXk1IBTGyOn9kDX2lhxagvR7XZ1vJonYIRBXCfJf5WDanxRmFKD0SzPBKPJw1%2BTU4mUy4qmhT4w%2B5ZneZ5n4D%2FQti5pc22mZ%2B9f39CQJ2gva%2BDYICBp3jM4ElgypXMu0dQSLbSoqkIOpr1pj0rJK2l3WSgzvpKwYyVYl%2BXptLeow2lPTHvltGcZljPtGcG0Z9rTXsC5ZRvcIVYUMOJQPyZBP%2B4Tp8%2F6dt%2Fts9Dxp71qUadhRkUy7XmOsbY9Y9pzXM%2BLDBrbrmc4FsDHd6nncN82XSOiHshneQn47P67mP%2B8HIaWAyjr0ygMw35sUMvq88h2wwCEMB5TOOXic8exfuxxTMs31n0LzhOYJvXNKGTMC5hhwqvvm37AIssPqGl7f%2FY8m3O9KMFP%2BepdmRwdrCjzqAteqVx2e7zmYO3LtLeEoy0SGNhmYNuWM1MvKZUVL7upXft7l%2F9Rkq0fIhr8JKUViKZFkYBvIdynvTVJCz5%2F9%2FYNrKhPrmu1Wh3vp1SAnf6H2DLtYSiU12mRo1K7gAoxVDAVPRGDtuH6NHR90nf9iJgmt0gQmRYxDNOPuU8NIzT2MY4veSayOUEFEcWCl7RkCwjhj9s5Tc19AETQkmfVA%2B52Q1MMKeOLe%2B2yXXVzIuHiuVn0%2BMdVIIsmycEWzfYfAHW8EDKPgM0EFTmVKiibqC%2Bfp7B7M1EXgE4pdzcA0kaMAeUiydnTLtbId5KX93UoWSlCHu2WyyLPZF5u1y34ejQB1NcJmtY4hz9dUS%2F2VDs4d9xzN4AJGuFdx6vmd5aI7OnI5OBQ%2FX532Y1XaZl2M15BNIimvTn4689Mimj4AkEQGHG86VCZrYauZdim2WEUZ%2FF304kTOh%2B%2Bsi5oykJ48JSV8IiqMoKHTKpCPdQcpFN8xCFVc88Zg0dWKwbKK9FJeVUOTcOyO%2Fu9wCXidvzKHr3O83nCJ6Pr8f3oenaTv78bXU86xbLMho9vRzeT298%2BdODGi%2BEypYWJe4JfOB15oPyyOFy8hGwwNH6awTklJPVZAWF%2F%2BAJuM8PDITkTHIyRzRra8M4YG2O7P5oQyxg7xLm86pPRleWSi8uL8YXpTa5897KznNd4Reqx6ciPwxesN3gJm3zkm84CHGOoLAFnemVdwf8TB%2BwUWFgAGz4aRZ7482wF0VEOX5QnbTpNhTJ8aZ6bDuxRoesPVzxULELOgASGVM9GTC1nRSmWlD2D9Gaw6cyLYvgCPzNZlYBzRZgpDLQDoIgl3Nvr29vXby5n1zf3D28vR7%2FN3l9PLm9nN7c348sPnZc4BeG0pKnc%2FKQrR6SpSqKIIQDfIaIQoWAWfdDYBQuBZo3CFQYxQBa8nyGyzhBXZ4iqM8TUGSLqDPF0hmg6QyydIZLOEEdYXAGSwAUBSuf64R6IJpDZvA4%2BiybUG%2FAEq7YgAQpiCqs8RNWZwhS6%2BpH6iKtjJsSWPoAC5AhdeMQWX3ozdYwwmP8mjOEGCC%2BU1%2BAMVfqIr4dYwwgBaPtSsMcTt2Vsi7dWsR3icKbBnH5QF29xh%2Fwt8oAK2GvZG9Qpszf4a%2Bl7BKodWwzCJGANKQc4bIizFj1bLCIV0Ii3%2FSU8qupgr9i2jN8AuSope4INFDbzVELVwdUY8rFtGK7hewBIp0kdN%2Ft7Yh6Q%2Fo7hGF4yCWrOlEXbtAQUWswoanYz7Y12axjewpKZ5o6iLHIoG7WaN80Fy%2BsMjo%2Fl5yOkoDABXROBHLjxBhPGFQwutymozRaMFpjn5Z%2Bt77Z8UOZ9pQ%2FpQiE2W6fJt1Waab2%2BK%2FOCl9XzrxxNbTmwhrqebfYj03UCJzAt26a2p28%2BKJelqt4G21R8%2FoxjoC3yqKljeBapS2oLgpjTqoaagzAs5zl2Xy2G4XCQNzEH73scDDaFgMGusFkvSiw2k4SzpjrasU17p7KhoDnBjJCXGYVmMWqzPi3hWhM%2BqkHfEnu6R4Abs2homoRGNMI20CahbZiEOz7jUcy4aYWqwjhk3ZYiFJoZroHDQYF1sEh1i6HhhKERBiSmkUEcy7GIH8UBYWATaBy4Y8fhXqW7OpzAGfD6oYgnpkEsSzPdgWEPLOtUc8TO4dbnNKEi0%2BQCjMjLc5plXEspQFNLON8z33OWZxEtn3dSHvc6Y8%2BqaC%2B6FwbQzHgcwlrkYclnk8DybYIO53o%2B%2FAQ%2BanC4KQacPuWR5bmEuhb0G30vhBEPiB2YIM0JWIhuq59ot9lpsG0sRSm1BcXOMgMPAyNoopJYNWpwNa4GVawWoo3BYboa7M7%2FJrXVglZalWtPWb7q7k%2F8sIVaVgFiZi11Fxzb6f2HAyEnfIk2UFlxvl2ALjnDbwkYuuF52t8D6ReBFfSjngI2n1e0YgvEA87cN8iFxQdzzVQrHrMWOLZYcq2JyiqGKxA5PrSSPmNfqb6rgyL6aJdEpAJDmNPueKu%2BT2wV3%2BIir0uVKSD6aG2IhBvOors2KitV2tDUZMj9le2%2BC9zRaqE8t%2Bl%2FwIoE7aW6jq29CAQxUdGEzAE6kogMige8HIL2I1VO0H6qL9mJPW0Y%2F9ABfZftoOJXjYg8seF5c1EgHW%2BZrrnqNuTWkfY89WcmriM1FfeNiPt2SEKLx40NqR0bxLCwr3ZMvw99wIcGcK0Nv9OpZnd7ke2dDb6T6C18J9sq4xjEnz592kME196VUFOWz2%2BbEgGUEdtUB5OYhWgJCkDYHid5Hd2Wc4U505jYpmW5ruVeXbn9wBg5gTFxJv8YRXkIYJ4jUk7qAr0tDPS2MjiuoL69MoBcQ4%2FrgENJ2FuqiAn0b4mX2kA7DtLat4RL5DoN5nhhxzZtiWNVZRwQK04TUad4MTzDsIbfLfSmuhbJwVplgw3m9kjQu1yq6NYGp4TTqI2G%2Fx9XVIn%2Fq1v9te8em81%2FAA%3D%3D\" class=\"lazyload embed__frame\" data-width=\"1920\" data-height=\"1080\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" id=\"harris-and-trump-both-push-for-child-tax-credit-hike--hero\" title=\"Video: Harris and Trump both push for Child Tax Credit hike\" data-sort-time=\"1726265112000\" data-update-time=\"1726265112000\"><\/iframe><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div><figcaption class=\"embed__caption-container\"><a href=\"https:\/\/www.cbsnews.com\/video\/harris-and-trump-both-push-for-child-tax-credit-hike\/\" class=\"embed__headline-link\" data-invalid-url-rewritten-http=\"\"><\/p>\n<p>          <span class=\"embed__icon\"><br \/>\n            <svg viewbox=\"0 0 32 32\" aria-hidden=\"true\"><use xlink:href=\"#icon-video\"\/><\/svg><\/span><\/p>\n<p>          <span class=\"embed__headline\">Harris and Trump both push for Child Tax Credit hike<\/span><\/p>\n<p>          <span class=\"embed__video-duration\">02:43<\/span><\/p>\n<p>                      <\/a><\/p>\n<\/figcaption><\/figure>\n<section class=\"content__body\">\n<p>The IRS on Tuesday <a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/rp-24-40.pdf\" target=\"_blank\" rel=\"nofollow noopener\">announced<\/a> its new inflation-adjusted tax brackets for 2025, with the annual income thresholds rising by about 2.8% from 2024 \u2014 the smallest jump in several years.\u00a0<\/p>\n<p>The IRS each fall announces inflation-adjusted changes to the tax brackets and dozens of other provisions for the following tax year. Because inflation jumped during the pandemic, the bracket adjustments were larger in the past few years, <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/taxes-2023-tax-brackets-irs-inflation-adjustments\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\" rel=\"noopener\">reaching 7% in 2023<\/a><\/span> and <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/taxes-2024-tax-brackets-irs-how-to-see-yours\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\" rel=\"noopener\">5.4% in the current year.<\/a><\/span><\/p>\n<p>The idea is to protect taxpayers from &#8220;bracket creep&#8221; \u2014 when workers are pushed into higher tax bands due to the impact of cost-of-living adjustments aimed at offsetting inflation \u2014 without a change in their standard of living.\u00a0<\/p>\n<aside class=\"newsletter_signup \">\n<figure class=\"embed embed--type-newsletter-widget embed--float-none embed--size-large embed--type-iframe\" data-ads=\"{\" wordcount=\"\">\n<\/figure>\n<\/aside>\n<p>But with U.S. inflation cooling to its <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/us-inflation-report-cpi-september-2024-federal-reserve\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\" rel=\"noopener\">lowest level in three years<\/a><\/span>, the IRS&#8217; annual adjustments are likewise becoming smaller.\u00a0<\/p>\n<p>For instance, the new threshold for the 10% tax bracket for married couples filing jointly will rise to $23,850 in 2025, a 2.8% increase from its 2024 threshold of $23,200.<\/p>\n<p>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&#8217;s $29,200.<\/p>\n<h2>How tax brackets work<\/h2>\n<p>Taxation in the U.S. is progressive, meaning that tax rates increase as people earn more money. But some people incorrectly believe that their top rate is what they&#8217;ll pay on all of their income. Instead, the brackets represent the percentage you&#8217;ll pay in taxes on each portion of your income.\u00a0<\/p>\n<p>For instance, married taxpayers who file jointly and earn more than $23,850 (the top threshold for the 10% bracket in 2025) will likely pay $2,385 in federal income tax \u2014 or 10% of their first $23,850 in earnings \u2014 and then 12% on any income above that amount, up to $96,950.\u00a0<\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<\/aside>\n<p><!-- tags --><\/p>\n<div class=\"content-author\">\n      <a href=\"https:\/\/www.cbsnews.com\/team\/aimee-picchi\/\" class=\"content-author__name\" data-invalid-url-rewritten-http=\"\">Aimee Picchi<\/a><\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/irs-2025-tax-brackets-capital-gains-inflation-what-to-know\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Harris and Trump push for Child Tax Credit hike Harris and Trump both push for Child Tax Credit hike 02:43 The IRS on Tuesday announced its new inflation-adjusted tax brackets &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=117260\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8629],"tags":[],"class_list":["post-117260","post","type-post","status-publish","format-standard","hentry","category-u-s","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/117260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=117260"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/117260\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=117260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=117260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=117260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}