Few people like to pay taxes, and this is well known by both the Federal State and the IRS (Internal Revenue Service of the United States). However, as a necessary contribution to the functioning of the country, most citizens are obliged to comply with this duty through their tax returns year after year. Now, everything seems to change for a specific group that will be able to say goodbye to paying taxes in 2025, as confirmed by the IRS. Although this measure could have negative consequences for the states’ collection , certain groups of society will not have to make this payment, as they will be officially classified as exempt taxpayers for the next fiscal year.
Who will not have to pay taxes in 2025?
The economic exemption for 2025 will benefit specific groups, following confirmation by the IRS, with a measure designed to alleviate the economic burden of the most vulnerable sectors of society that are going through complicated situations and meet the requirements established by the Federal State. As reflected in the 2024 tax return, these exemptions may be automatically applied in 2025, and you may be one of the beneficiaries. Everything will depend on the annual income of each family group or individual, following a specific scale. Below are the most important thresholds to take into account to assess whether you could benefit:
- Single individuals or individuals filing an individual return with income of less than $14,600 per year.
- Heads of household with declared income of less than $21,900 per year.
- Married couples filing a joint return with income less than $29,200 per year.
With these measures, the IRS makes it clear that many people will benefit, as they will not have to allocate part of their income to pay taxes, thus alleviating the tax burden that affects the pockets of so many. In addition, the IRS has introduced other tax changes that could be of great help to those who need it most.
Other tax changes for 2025
The payment limit for each person’s 2024 tax return will change from what it was in 2023. This implies that the tax brackets will be modified, which will allow paying less tax even for those with high incomes. In detail:
- 37% of income will be taxed for those reporting annual incomes of $609,350 or more.
- In the lowest bracket, 12% of income will apply to those declaring income of $11,600, or $23,200 in the case of married couples.
In addition to these adjustments, tax exemptions have also been expanded. For example, U.S. citizens working abroad or non-governmental organizations (NGOs) will be exempt from paying taxes. In summary, these changes and the extension of tax brackets represent good news for a large segment of the U.S. population.
