The IRS has released its annual Tax Time Guide series, which provides important updates and resources to tax pros and taxpayers alike for the 2025 tax filing season. The comprehensive series covers a variety of topics, with the goal of easing the tax return preparation and filing process for individuals in what may be a challenging tax season.
This year's guide also highlights online resources, including a dedicated free help page accessible 24/7 to assist tax pros and taxpayers during tax season. It also recommends using enhanced digital resources and self-service tools, which are available on IRS.gov.
Key filing deadlines for the 2024 tax year
The tax filing deadline is April 15, – April 17 for Maine and Massachusetts – unless the IRS has announced otherwise (for example, in areas affected by national disasters).
Final 2024 quarterly estimated tax payments are due on January 15, 2025.
Key tax changes for the 2024 tax year
In addition to the usual adjustments to the standard deductions, there were changes to multiple deductions, credits, reporting, and compliance requirements in the 2024 tax year .
Standard deduction changes in 2024
The standard deductions for the 2024 tax year increased, potentially reducing taxable income for those who don't itemize deductions.
- Single or married filing separately: $14,600 (up $750 from $13,850 the prior year)
- Head of household: $21,900 (up $1,100 from $20,800 the prior year)
- Married filing jointly or surviving spouse: $29,200 (up $1,500, from $27,700 the prior year)
Tax credits and deductions
Multiple tax credits and deductions saw changes or enhancements in 2024. It’s important to note that the IRS will delay refunds involving credits that are more likely to be improperly applied – such as the ACTC and EITC – until at least mid-February 2025.
The Additional Child Tax Credit (ACTC) saw enhancements in 2024. Residents of Puerto Rico with one or more qualifying children are now eligible, and the credit was increased to $1,700 per qualifying child.
The Adoption Credit increased by $860 in 2024, making the maximum credit $16,810 per eligible child (from $15,950 in 2023).
The Child Tax Credit (CTC) remains at $2,000 per child under 17, with phase-out beginning at $200,000 AGI for single filers and $400,000 for joint filers. However, for the 2024 and 2025 tax years, up to $1,700 per child of the credit is refundable.
*If Congress makes retroactive changes to the CTC, the IRS has said that it will automatically adjust for those who have already filed without any additional action from the taxpayer.
The Earned Income Tax Credit (EITC) saw an adjustment in 2024, tightening the age range for filers without qualifying children to 25-64.
The Clean Vehicle Credit and Previously Owned Clean Vehicle Credit did not change in 2024.
Credits of up to $7,500 are available for eligible electric vehicles on Form 8936.
You can read more about the New Clean Vehicle Credit and the Previously Owned Clean Vehicle Credit on CCH® AnswerConnect (limited access is available without a subscription; full access may require a subscription).
