Each year, the IRS makes adjustments to account for inflation and new legislation. Staying on top of these changes is the best way to ensure you file your 2025 taxes accurately and don't miss out on any tax benefits. Here’s what’s new for the taxes you're filing in 2026.

Updated Standard Deduction

For current taxes (filed in 2026), the standard deduction has increased. For single filers, it's now ~$15,000, and for married couples filing jointly, it's ~$30,000..

Inflation-Adjusted 2025 Tax Brackets

The income ranges for each tax bracket have also shifted upward by about 2.8%. This means you might be able to earn more in 2025 before being pushed into a higher tax bracket..

Changes to Retirement Contributions for 2025

The contribution limits for 2025 have increased, giving you a chance to save even more for retirement while reducing your 2025 taxable income:

• 401(k) & 403(b) employee contribution limit: Increased to $23,500.
  
  

• IRA (Traditional & Roth) contribution limit: Increased to $7,000.

  
  

EV Tax Credit Status for 2025

The rules for the Clean Vehicle Credit remain in place for 2025. There are still requirements regarding vehicle price, battery components, and your income that determine eligibility for the full credit.

Updated HSA & FSA Limits for 2025

If you have a high-deductible health plan, the contribution limits for Health Savings Accounts (HSAs) have also increased for 2025, providing another great way to save on taxes.

Navigating tax law changes can feel like a full-time job. Our team at FINVO is always up-to-date on the latest regulations for the 2025-2026 tax year. When you file with us, you can be confident your return is 100% accurate and compliant with all current laws. Start your tax filing with FINVO today.