Through February 2025, the average tax refund was $3,182. That's a 6.3% increase from the same period in 2024.

The tax brackets you fall into determine how much ... Tax Rate Single Married filing jointly Married filing separately Head of household 10% $11,600 or less $23,200 or less $11,600 or less $ ...

Commerce secretary said President Trump wants to revamp the tax system, drop income taxes for people making less than $150K. How would that affect MS residents?

Tax brackets are the government’s way of ensuring that taxpayers who earn more money pay more in taxes. Each bracket consists of a tax rate that’s applied to taxable income within a specific ...

The IRS has adjusted federal income tax brackets for 2025, increasing the standard deduction and shifting tax thresholds to account for inflation. The tax brackets, which reflect a 2.8% inflation ...

For example, a single filer earning $75,000 in 2024 (filing in 2025) can claim ... lowering their overall tax bill. Standard Deduction: Single, Married and Head of Household The size of your ...

But keep in mind that capital gains tax rates are generally lower than the ... The 20% rate threshold rose from $553,850 to $583,750. Head of household filers also experienced notable changes ...

Additionally, those filing as head of household will see ... to keep in mind for your 2025 tax planning. Another significant update involves marginal tax rates. For single filers, you can now ...

Tax season is now underway, with the IRS accepting returns for all taxpayers as of Jan. 27. That's prompting many people to turn to the "Where's my refund?" app from the tax agency to track when ...