The article discussed the IRS's new tax brackets for 2025 and what taxpayers need to know as they file taxes.
- The income tax brackets were adjusted by 2.8%, which was a lower change than previous years.
- With provisions from the Tax Cuts and Jobs Act set to expire in 2025, the 2026 tax season could look even more different.
- Other new provisions in 2025 include estate and gift tax exemptions and eligibility for earned income tax credit.
Professor Bruckner said: "These are hugely important budgetary debates and they will impact American families' kitchen table discussions."
Read the article here.