Americans have a better idea of the taxes they’ll be paying in 2025 thanks to new standard deductions and income tax brackets announced by the IRS. These annual changes are based on what’s been the hottest topic in economics for a few years now: inflation.

The IRS has adjusted tax brackets and dozens of other provisions for inflation. Here's how that will impact your taxes.

The IRS also boosted figures for dozens of other provisions, including long-term capital gains brackets estate and gift tax exemption and more.