A new report from Bloomberg Tax & Accounting estimates that inflation-adjusted amounts in the tax code will increase by 2.8% from 2024, according to a Sept. 11 report from Forbes.
Forbes estimated the projected numbers for the tax year 2025, beginning Jan. 1, 2025:
Single taxpayers:
|
Taxable income |
Tax due |
|
$0-$11,925 |
10% of taxable income |
|
$11,926-$48,475 |
$1,193 + 12% of the amount over $11,925 |
|
$48,476-$103,350 |
$5,579 + 22% of the amount over $48,475 |
|
$103,351-$197,300 |
$17,651 + 24% of the amount over $103,350 |
|
$197,301-$250,525 |
$40,199 + 32% of the amount over $197,300 |
|
$250,526-$626,350 |
$57,231 + 35% of the amount over $250,525 |
|
$626,351 and more |
$188,769.75 + 37% of the amount over $626,350 |
Married taxpayers filing jointly:
|
Taxable income |
Tax due |
|
$0-$23,850 |
10% of taxable income |
|
$23,851-$96,950 |
$2,385 + 12% of the amount over $23,850 |
|
$96,951-$206,700 |
$11,157 + 22% of the amount over $96,950 |
|
$206,701-$394,600 |
$35,302 + 24% of the amount over $206,700 |
|
$394,601-$501,050 |
$80,398 + 32% of the amount over $394,600 |
|
$501,051-$751,600 |
$114,462 + 35% of the amount over $501,050 |
|
$751,601 and over |
$202,154.50 + 37% of the amount over $751,600 |
Married taxpayers filing separately:
|
Taxable income |
Tax due |
|
$0-$11,925 |
10% of taxable income |
|
$11,926-$48,475 |
$1,193 + 12% of the amount over $11,925 |
|
$48,476-$103,350 |
$5,579 + 22% of the amount over $48,475 |
|
$103,351-$197,300 |
$17,651 + 24% of the amount over $103,350 |
|
$197,301-$250,525 |
$40,199 + 32% of the amount over $197,300 |
|
$250,526-$375,800 |
$57,231 + 35% of the amount over $250,525 |
|
$375,801 and more |
$101,077.25 + 37% of the amount over $375,800 |