While it is true that most United States citizens will not see changes in their tax bracket payable to the IRS in the coming year 2024, it is also true that this is likely to happen. The steps that classify tax payers change for the year 2025, so we must know this well to avoid problems and surprises.
Even so, we must keep in mind that in most cases we are going to find ourselves with more margin to be able to earn extra money without the need to pay extra taxes. Therefore, we find that the payments either from work or Social Security benefits can be higher in 2024 without the obligation to pay more taxes in 2025.
Therefore, the IRS warns that we will pay different taxes in the coming year 2025, although this will not be the case for everyone. The best way to understand the situation is to check the Tax brackets that we find among the official information of the American Internal Revenue Service. Thanks to this we will be able to have all the necessary information to know what percentage of taxes we will pay from the income of this year 2024.
IRS tax changes in 2025
To tell the truth, it is important to highlight that most United States citizens will not have problems to be able to pay taxes in 2025, since we find that the amount of income we can have is higher. That is, Americans can earn more money without having to pay more taxes on it.
In some cases, this increase can be very substantial. Depending on the category to which we belong we can earn more or less extra money. In most cases, the increase is around $3,000. So we can earn $3,000 more per year without having to be in the next tax bracket.
In this sense, many Americans who pay 22% tax on 2023 income in 2024 will see that in 2025 they will pay no more than 12%. Undoubtedly, this is good news for those who have had a salary increase or who already in the previous year reached that minimum.
To have it clearer, this is the IRS tax table for the year 2025:
|
Tax Rate |
Single person |
Married filing jointly |
Married filing separately |
Head of household |
|---|---|---|---|---|
|
10% |
$11,600 or less |
$23,200 or less |
$11,600 or less |
$16,550 or less |
|
12% |
$11,601 to $47,150 |
$23,201 to $94,300 |
$11,601 to $47,150 |
$16,551 to $63,100 |
|
22% |
$47,151 to $100,525 |
$94,301 to $201,050 |
$47,151 to $100,525 |
$63,101 to $100,500 |
|
24% |
$100,526 to $191,950 |
$201,051 to $383,900 |
$100,526 to $191,950 |
$100,501 to $191,950 |
|
32% |
$191,951 to $243,725 |
$383,901 to $487,450 |
$191,951 to $243,725 |
$191,951 to $243,700 |
|
35% |
$243,726 to $609,350 |
$487,451 to $731,200 |
$243,726 to $365,600 |
$234,701 to $609,350 |
|
37% |
Over $609,350 |
Over $731,200 |
Over $365,600 |
Over $609,350 |
In the event that you need help sending tax documentation, remember that the IRS has several programs to help those in need. If we need help but we are not in that group, we can always turn to a professional in the sector.