This article on federal tax brackets has been updated for the 2024 and 2025 tax years.The IRS hasreleasedits 2025 tax brackets (the bracketed tax rate table for IRS federal income tax rates). Each year, the IRS tax rate brackets are adjusted for inflation (similar tomaximum 401Kandmaximum I...
Updated Nov. 07, 2024 Taxes are constantly in the news! Check out the latest federal and state tax headlines from the United States below. See more tax statistics, tax history and other tax facts here and keep up with year-to-year tax changes.U.S. IRS Federal Income Tax News...
There are seven federal income tax rates, which were set by the 2017 Tax Cuts and Job Act: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Taxation in the U.S. is progressive, which means that tax rates get higher the more you earn. However, there's a common misconception that a wo...
Next year, the federal estate-tax exclusion amount, which is the dollar figure for how much in assets can be sheltered from the estate tax, will rise to $13.99 million from $13.61 million in 2024. And in 2025, people will be able to give others up to $19,000 on a tax-free basis...
pay off as you will get any refund owed you earlier as well. Depending on whetheryou filed online or on paper, and whether you chose to receive your money throughdirect deposit or a paper check, it could take as little astwo to three weeksfor you to receive your federal income tax ...
The federal tax collector’s Direct File program, which allows taxpayers to calculate and submit their returns to the government directly without using commercial tax preparation software, will be available to taxpayers in 25 states starting Jan. 27, up from 12 states that were part of last ye...
Tax season opens Monday, and the IRS has announced that it has expanded its free online system for filing 2024 returns directly with the federal government. The Direct File option was initially offered in a dozen states last year to low- and moderate-income taxpayers with simple returns. The ...
Know When Are Taxes Due 2025: Important Tax Deadlines for the 2024 Tax Year For the 2024 tax year, most taxpayers must file their federal income tax returns by April 15, 2025. Due to state holidays, taxpayers in Maine and Massachusetts have until April 17, 2025....
Here come the federal income-tax brackets for 2025. Take a long look, because things could be a lot different in 2026 after provisions of the Trump-era Tax Cuts and Jobs Act expires. Photo: Getty Images The Internal Revenue Service just set the levels of its income...
The start of a new year means that tax season is just around the corner. The deadline for filing 2024 income taxes with the Internal Revenue Service is April 15, 2025. The date when the IRS will begin processing returns has not been announced – it’s typically late Ja...