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2026 FILING SEASON CHANGES FOR 2025 TAX RETURNS
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 Due Date for 2025 Returns |
| The due date to file your 2025 income tax return or extension form is April 15, 2026. |
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| Increased Standard Deduction |
| For the 2026 tax season, the standard deduction amounts will be increased slightly as in previous years. The new amounts for 2025 tax returns are below. The increased standard deduction will continue to allow more individuals to file without itemizing deductions on Schedule A. |
| FILING STATUS | STANDARD DEDUCTION AMOUNT |
| Married Filing Joint; Qualifying surviving spouse | $31,500 |
| Single; Married Filing Separate | $15,750 |
| Head of Household | $23,625 |
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| Tax Rates |
| For tax year 2025, the top tax rate remains at 37%. All other rates are below based on taxable income levels. |
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| Tax Rate | Single Taxable Income | MFJ Taxable Income | HOH Taxable Income |
| 37% | $626,350 and higher | $751,600 and higher | $626,350 and higher |
| 35% | Over $250,0525 | Over $501,050 | Over $250,500 |
| 32% | Over $197,300 | Over $394,600 | Over $197,300 |
| 24% | Over $103,350 | Over $206,700 | Over $103,350 |
| 22% | Over $48,475 | Over $96,950 | Over $64,850 |
| 12% | Over $11,925 | Over $23,850 | Over $17,000 |
| 10% | Less than $11,925 | Less than $23,850 | Less than $17,000 |
| AMT Exemption |
| The Alternative Minimum Tax exemption amount for tax year 2025 is $88,100 and begins to phase out at $626,350 ($137,000 for married couples filing jointly for whom the exemption begins to phase out at $1,252,700). |
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| MSA Contribution Limits |
| For tax year 2025, for family coverage, the annual deductible is not less than $5,700, up from $5,500 for 2025; however, the deductible cannot be more than $8,550, up $200 from the limit for tax year 2025. For family coverage, the out-of-pocket expense limit is $10,500 for tax year 2025, an increase of $300 from tax year -1. |
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| HSA Contribution Limits |
| The HSA contribution limit for 2025 has increased to $4,300 for single coverage and $8,550 for family coverage. |
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| Child Tax Credit |
| For tax year 2025 The Child Tax Credit is $2,200 for each qualifying child and the maximum Additional child tax credit amount increased to $1,700 for every child who is under the age of 17. |
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| Clean Vehicle Credit |
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Clean Vehicle credit of up to $7,500 ($40,000 for a vehicle with a GVWR of 14,000 pounds or more).for purchasing a new electric vehicle under the renamed Clean Vehicle Credit,for the first time people purchasing used electric vehicles from -1 to 2032 eligible for a tax credit up to the lesser of $4,000 or 30% of the sales price, depending on their income. Update: The New Clean Vehicle Credit, Previously-Owned Clean Vehicle Credit, and Qualified Commercial Clean Vehicle Credit are not available for vehicles acquired after Sept. 30, . The vehicle must be placed in service for you to claim the credit. If a vehicle is placed in service after Sept. 30, , you must have acquired the vehicle on or before Sept. 30, , to be eligible for the credit. You can demonstrate acquisition by entering into a binding written contract and making a payment on the vehicle on or before Sept. 30, . A vehicle is placed in service when you take possession of the vehicle. |
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| Earned Income Tax Credit (EITC) |
| For tax year 2025 maximum Earned Income Tax Credit amount is $8,046 for qualifying taxpayers who have three or more qualifying children, and $649 with zero qualifying children. |
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| Charitable Contributions |
| You can deduct charitable contributions you made in 2025 as long as you itemize your deductions and donate to qualified organizations. The limit for charitable deductions is 60% of your adjusted gross income. |
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| Forgiven Student Loan Debt |
| Starting in 2025, most student loan debt incurred for post-secondary education that is forgiven will not be considered taxable income. The rule allowing workers to exclude up to $5,250 of college loans paid by their employer in 2020 from taxable wages was also extended through 2026. The $5,250 cap applies to both student loan repayment benefits and other educational assistance offered by an employer. |
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| Gift Tax Exclusion |
| The gift tax exclusion remains $19,000 per recipient for 2025. This means you can give up to $19,000 ($38,000 if your spouse agrees) to each child, grandchild or any other person in 2025 without having to file a gift tax return or tap into your lifetime estate and gift tax exemption. The lifetime estate and gift tax exemption increased to $13.99 million from -1 ($27.98 million for couples if portability election is timely made). |
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