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Taxpayers will get higher standard deductions in 2025, IRS announces

  • U.S. Taxpayers will benefit from higher standard deductions for 2025, allowing them to shield more money from taxation on future returns.
  • The standard deduction for single taxpayers and married individuals filing separately will be $15,000, up $400 from 2024.
  • Couples filing jointly will see a standard deduction of $30,000, an $800 increase from the prior year.
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