2025 Tax Brackets and Federal Income Tax Rates: What You Need to Know
Brackets and Federal Income Tax Rates. As a rule of thumb, when inflation hits the United States, the Internal Revenue Service (IRS) modifies some tax provisions every year. Generally, inflation is defined as the increase in prices of both goods and services over time, which subsequently reduces the purchasing power of money. Simply put, inflation reduces the purchasing ability of money, making the same amount buy fewer goods and services, …