Key Tax Changes to Know for the 2025 Filing Season

Increased Standard Deduction

The IRS has raised the standard deduction for inflation: – Single: $15,000 – Married Filing Jointly: $30,000 – Head of Household: $22,500

Adjustments to Alternative Minimum Tax (AMT)

The AMT exemption has been raised to: – Single: $88,100 – Married Filing Jointly: $137,000 This change helps prevent middle-income taxpayers from being affected by AMT.

Expanded Child Tax Credit

The Child Tax Credit remains at $2,000 per child, with a higher refundable portion. More families may qualify due to inflation adjustments.

Expiring Tax Provisions

Some Tax Cuts and Jobs Act (TCJA) provisions will expire after 2025, possibly increasing tax rates and reducing deductions. Tax planning now can help you prepare.

Expiring Tax Provisions

Some Tax Cuts and Jobs Act (TCJA) provisions will expire after 2025, possibly increasing tax rates and reducing deductions. Tax planning now can help you prepare.