Goodbye taxes: if you meet any of these conditions, you won’t have to pay the IRS in 2025
The 2025 tax season is just a couple of months away. If you meet these conditions, you won't have to pay taxes next year.
As the 2025 fiscal season approaches, the IRS will begin processing returns for the 2024 tax year by the end of January. However, not everyone is required to file a return or pay taxes.
Under federal tax law, individuals with income below the standard deduction threshold are not obligated to file a tax return. In this article, we break down what the standard deduction is for you and whether you’ll need to pay taxes. Also, other taxpayers that may not only get off the hook for sending more money to Uncle Sam, but could get some of it back to boot.
Goodbye taxes: if you meet any of these conditions, you won’t have to pay taxes in 2025
Each year, the IRS sets the standard deduction based on the taxpayer’s filing status. The standard deduction is a predetermined amount of income that you can deduct from your taxable income without having to answer any questions about specific deductions. If your income falls below this threshold, you are not required to file your tax return.
For the 2024 fiscal year, which will be filed in 2025, the standard deduction amounts are as follows:
Although individuals with incomes below these thresholds are not required to file, they can still do so, and it’s recommended, in order to qualify for certain tax credits which could potentially result in a refund.
You may be interested in: The 5 things you should consider buying before Donald Trump’s new tariffs take effect
Other individuals and organizations that don’t pay taxes
Besides individuals with low income below the standard deduction limits, certain groups are also exempt from paying taxes:
How much will you pay in taxes to the IRS in 2025?
Each year, the IRS establishes tax rates, which are the percentages of tax applied to taxpayers' taxable income. Taxable income is any income that is subject to federal taxes, whether it comes from employment or other sources.
The tax rate that applies to you depends on your filing status. For the 2024 fiscal year, to be filed in 2025, these are the tax rates:
To reduce their tax liability, taxpayers can apply the standard deduction for their filing status or itemize their deductions. If personal deductions exceed the standard deduction, taxpayers receive a greater benefit by lowering their taxable income further, potentially placing them in a lower tax bracket and paying less in taxes.
While it’s a task everyone dreads, the IRS has been working to make filing easier with new tools to aid taxpayers. Last year the agency launched a new IRS Free File portal which “lets qualified taxpayers prepare and file federal income tax returns online using guided tax preparation software” for free.
Original article written by Corina González, translated with the assistance of AI and edited by Greg Heilman.
Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all. Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere.