The One Big Beautiful Bill Act (OBBBA) makes permanent the federal income tax rates and brackets established by the 2017 Tax Cuts and Jobs Act (TCJA). That’s good news.
You may remember that the TCJA dramatically increased standard deduction amounts.
The OBBBA makes those bigger standard deductions permanent while also delivering increases starting this year. That’s also good news.
For 2025,
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the basic standard deduction for single filers is increased to $15,750 (up from $15,000 for 2025 before the OBBBA),
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the basic standard deduction ... Log in to view full article.