There are other tax changes happening next year that could put more money in your paycheck. If you collect Social Security, you'll receive a 2.5% cost-of-living-adjustment in 2025. The Earned Income Tax Credit also increased to $8,046 for filers with three or more qualifying children.

The IRS on Tuesday announced new inflation-adjusted tax brackets for the coming year, setting the standard deduction for a single filer at $15,000 and for a married couple at $30,000 for the first time.