IRS: 2025 tax inflation adjustments

The Internal Revenue Service announced that it has released its annual inflation adjustments for the 2025 tax year.

Tax items updated in the adjustments included standard deductions, marginal tax rates on the basis of income, alternative minimum tax exemption amounts, earned income tax credits, qualified transportation fringe benefits, health flexible spending cafeteria plans, medical savings accounts, foreign earned income exclusions, estate tax credits, annual exclusion for gifts and adoption credits.

Personal exemptions, itemized deductions and lifetime learning credits remained unchanged.

Read more: IRS

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