Tax tips: What's new for 2025
Tax tips as April 15 filing deadline looms
As tax day quickly approaches, FOX 13's Craig Patrick shares what is new ahead of the April 15 deadline.
TAMPA, Fla. - Every year the IRS tweaks the tax rules, and this year’s changes could put more money back in your pocket. Thanks to recent tax reforms, the standard deduction has gone up slightly: it is now $15,750 for single filers and $31,500 for married couples filing jointly.
Additionally, the 401(k) contribution limit rose to $23,500 for 2025. If you haven't maxed out your account, you can still make contributions before you file your return.
By the numbers:
The Earned Income Tax Credit (EITC) adjusts for inflation each year. For 2025, the maximum credit is $8,046 for filers with three or more children.
The government has ended the IRS Direct File program, but the traditional IRS Free File program is still running. If your adjusted gross income was $89,000 or less in 2025, you qualify.
What you can do:
To use it safely, go directly to IRS.gov and click the 'Free File' tab. Avoid using search engines to find it, as you may be redirected to deceptive sites that try to charge you.
The Source: Information in this article comes directly from the Internal Revenue Service (IRS) official guidelines for the 2025 tax year, alongside updates from the recently signed mid-year tax reform legislation.