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IRS has announced its new 2025 tax brackets. Here’s what to know.
The IRS on Tuesday announced its new inflation-adjusted tax brackets for 2025, with the annual income thresholds rising by about 2.8% from 2024 — the smallest jump in several years.
The IRS each fall announces inflation-adjusted changes to the tax brackets and dozens of other provisions for the following tax year. Because inflation jumped during the pandemic, the bracket adjustments were larger in the past few years, reaching 7% in 2023 and 5.4% in the current year.
The idea is to protect taxpayers from “bracket creep” — when workers are pushed into higher tax bands due to the impact of cost-of-living adjustments aimed at offsetting inflation — without a change in their standard of living.
But with U.S. inflation cooling to its lowest level in three years, the IRS’ annual adjustments are likewise become smaller.
For instance, the new threshold for the 10% tax bracket for married couples filing jointly will rise to $23,850 in 2025, a 2.8% increase from its 2024 threshold of $23,200
The standard deduction in 2025 will rise to $30,000 for married couples filing jointly, a roughly 2.7% increase from the current tax year’s $29,200.
—This is a breaking story and will be updated.
CBS News
Thousands of duloxetine bottles, an antidepressant sold as Cymbalta, recalled over toxic chemical
Thousands of bottles of the antidepressant duloxetine, which is sold under the brand name Cymbalta, have been recalled due to the presence of a toxic chemical, according to a notice from the Food and Drug Administration.
The October 10 recall is due to the presence of N-nitroso-duloxetine, a chemical that is toxic if swallowed and is suspected of causing cancer, according to the National Library of Medicine. The FDA classified the recall as Class II, which means that the drug could cause “temporary or medically reversible adverse health consequences.”
The medication, manufactured by Towa Pharmaceutical Europe, was distributed nationally throughout the U.S., according to the recall notice.
Towa and the FDA didn’t immediately respond to requests for comment.
Duloxetine recall
The recall covers 7,107 bottles of duloxetine, the FDA said. The bottles include 500 delayed-release 20mg capsules. The lot number is 220128, with an expiration date of 12/2024.
Duloxetine, a selective serotonin and norepinephrine reuptake inhibitor (SSRI), is prescribed for anxiety and depression, and can also be used to treat nerve pain for people with diabetes, the Mayo Clinic notes. It’s also used for people with fibromyalgia and chronic pain related to bones and muscles, it adds.
McDonald’s Quarter Pounder hamburgers are being linked to an outbreak of E. coli that has sickened nearly 50 people in 10 states, killing one person, federal health officials said Tuesday.
Most sick people reported eating Quarter Pounders from McDonald’s, and investigators are working to confirm which food ingredient is contaminated, according to the U.S. Centers for Disease Control and Prevention.
A total of 49 cases have been reported so far. Most of the illnesses occurred in Colorado and Nebraska, with 26 sickened in the former and nine stricken in the latter, the CDC stated. Of the 26 sickened in Colorado, an older adult died, the CDC said.
Another person developed hemolytic uremic syndrome, a serious condition that can cause kidney failure. The person who died is not the same same person with HUS.
A total of at least 10 people have so far been hospitalized.
Nine people were reported ill in the outbreak in Nebraska, with Utah and Wyoming reported four illnesses a piece. Other states reporting illnesses include Iowa, Kansas, Missouri, Oregon and Wisconsin.
In a statement McDonald’s posted to its website, Cesar Piña, the company’s North America chief supply chain officer, said that “initial findings from the investigation indicate that a subset of illnesses may be linked to slivered onions used in the Quarter Pounder and sourced by a single supplier that serves three distribution centers.”
McDonald’s is cooperating with federal and state public health officials and has stopped using fresh slivered onions and quarter pound beef patties in several states, where the product will temporarily be unavailable, the CDC stated.
Quarter pound beef patties are only used on Quarter Pounders and fresh slivered onions are primarily used on Quarter Pounder hamburgers and not other menu items, the CDC said.
The illnesses began at the end of September and the most recent occurred as of Oct. 11.
It usually takes three to four weeks to determine if a sick person is part of an outbreak. Most people infected with the toxin-producing E. coli experience severe stomach crams, diarrhea and vomiting. Most recover without treatment after 5 to 7 days.
People are advised to call their health care provider if they ate a McDonald’s Quarter Pounder and have severe E. coli symptoms:
McDonald’s did not immediately respond to a request for comment.
Chipotle Mexican Grill job applicants better get used to conversing with AI — their first interview could be with an artificial intellgence-powered system named “Ava Cado” rather than a human hiring manager.
The fast-casual Mexican restaurant chain said Tuesday that it is partnering with Paradox, a maker of what the technology company calls “conversational” AI, to launch the new hiring platform.
By collecting basic information about candidates, Ava will free up restaurant managers to focus on other tasks, according to the company. The AI can also schedule interviews and even make job offers in real time, the company said. Ava is also a polyglot and able to conduct interviews in English, Spanish, French and German.
The new technology is expected to reduce the amount of time it takes Chipotle to hire an employee for an in-restaurant position by as much 75%, Chipotle said in a statement to CBS MoneyWatch.
Chipotle plans to deploy the system across more than 3,500 restaurant locations in North America and Europe. The technology is currently being introduced at restaurants in a phased approach that’s expected to be complete by the end of October.
In addition to collecting biographical information, Ava can engage with job applicants and answer their questions about the company, according to Chipotle.
“Paradox operates as if we’ve hired additional administrative support for all our restaurants, freeing up more time for managers to support team members and provide an exceptional guest experience. We’re excited about the early improvements we’re seeing,” Chipotle chief human resources officer Ilene Eskenazi said in a statement.
A number of other major restaurant chains, retailers and other companies have turned to Paradox’s AI hiring tech, including Applebee’s, McDonald’s, Panera Bread, Taco Bell and Wendy’s.
Although AI can expedite the hiring process, it can also be controversial as a recruiting tool. Some studies have found that it can lead to biased assessment of candidates and unintentionally discriminate against people based on their race or gender.
To guard against the misuse of AI in hiring, New York City in 2021 passed a law that requires companies that use the technology to disclose its use to job candidates. Employers are also required to conduct annual third-party “bias audits” of their automated hiring systems to ensure the technology isn’t discriminating against certain types of candidates.
Thousands of duloxetine bottles, an antidepressant sold as Cymbalta, recalled over toxic chemical
Minnesota DNR sues Lake County to stop resort expansion near the Boundary Waters
McDonald’s Quarter Pounder hamburgers linked to deadly E. coli outbreak, CDC says
Thousands of duloxetine bottles, an antidepressant sold as Cymbalta, recalled over toxic chemical
Minnesota DNR sues Lake County to stop resort expansion near the Boundary Waters