Budget 2025 Tax Changes Irs. You pay tax as a percentage of your income in layers called tax brackets. The irs announced thursday annual inflation adjustments for over 60 tax provisions in tax year 2025, including increases in the standard deduction for married couples and single individuals.
Lawmakers plan to cut $10 billion in funds the irs got in the inflation reduction act, in a spending deal for the rest of fiscal 2025. See current federal tax brackets and rates based on your income and filing status.