New Tax Year 2025

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New Tax Year 2025. Summary of the latest federal income tax data, 2025 update. The internal revenue service has announced its annual inflation adjustments for tax year 2025.


New Tax Year 2025

Provinces have their own provincial income tax brackets, but for 2025 the federal thresholds will now be: For single filers and heads of households age 65 and over, the additional standard deduction will increase slightly โ€” from $1,950 in 2024 (returns youโ€™ll file soon in early 2025) to.

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