Repository: PolicyEngine/policyengine-us (language: python)

Issue:
Update Remaining 2025 IRS Parameters
https://www.irs.gov/pub/irs-drop/rp-24-40.pdf

Everything except income and capital gains thresholds which are already added.



Discussion / hints:

Fix patch:
diff --git a/changelog_entry.yaml b/changelog_entry.yaml
index e69de29bb2d..cea6a856db3 100644
--- a/changelog_entry.yaml
+++ b/changelog_entry.yaml
@@ -0,0 +1,4 @@
+- bump: minor
+  changes:
+    added:
+    - Remaining 2025 IRS tax posted parameter updates.
diff --git a/policyengine_us/parameters/gov/irs/credits/ctc/refundable/individual_max.yaml b/policyengine_us/parameters/gov/irs/credits/ctc/refundable/individual_max.yaml
index 8e9244854f9..f9830c6b30a 100644
--- a/policyengine_us/parameters/gov/irs/credits/ctc/refundable/individual_max.yaml
+++ b/policyengine_us/parameters/gov/irs/credits/ctc/refundable/individual_max.yaml
@@ -12,6 +12,8 @@ metadata:
   period: year
   label: Child tax credit refundable maximum amount
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=8
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=9
     - title: 2023 IRS data release
diff --git a/policyengine_us/parameters/gov/irs/credits/eitc/max.yaml b/policyengine_us/parameters/gov/irs/credits/eitc/max.yaml
index 12d60ffb388..30423b2b318 100644
--- a/policyengine_us/parameters/gov/irs/credits/eitc/max.yaml
+++ b/policyengine_us/parameters/gov/irs/credits/eitc/max.yaml
@@ -12,8 +12,8 @@ brackets:
       2022-01-01: 560
       2023-01-01: 600
       2024-01-01: 632
+      2025-01-01: 649
       # CBO forecast.
-      2025-01-01: 648
       2026-01-01: 662
       2027-01-01: 675
       2028-01-01: 689
@@ -34,8 +34,8 @@ brackets:
       2022-01-01: 3_733
       2023-01-01: 3_995
       2024-01-01: 4_213
+      2025-01-01: 4_328
       # CBO forecast.
-      2025-01-01: 4_318
       2026-01-01: 4_413
       2027-01-01: 4_505
       2028-01-01: 4_593
@@ -56,8 +56,8 @@ brackets:
       2022-01-01: 6_164
       2023-01-01: 6_604
       2024-01-01: 6_960
+      2025-01-01: 7_152
       # CBO forecast.
-      2025-01-01: 7_136
       2026-01-01: 7_292
       2027-01-01: 7_444
       2028-01-01: 7_588
@@ -78,8 +78,8 @@ brackets:
       2022-01-01: 6_935
       2023-01-01: 7_430
       2024-01-01: 7_830
+      2025-01-01: 8_046
       # CBO forecast.
-      2025-01-01: 8_028
       2026-01-01: 8_204
       2027-01-01: 8_374
       2028-01-01: 8_536
@@ -96,6 +96,8 @@ metadata:
   # Skip uprating to avoid uprating the thresholds.
   label: EITC maximum amount by number of children
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=9
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=10
     - title: 2023 IRS data release
diff --git a/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/joint_bonus.yaml b/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/joint_bonus.yaml
index 10fbc6c14f2..e3c86b1cde2 100644
--- a/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/joint_bonus.yaml
+++ b/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/joint_bonus.yaml
@@ -9,6 +9,8 @@ metadata:
     # Row 3: Threshold Phaseout Amount (Single, Surviving Spouse, or Head of 
     #        Household), and
     # Row 5: Threshold Phaseout Amount (Married Filing Jointly)
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=9
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=9
     - title: IRS data release 2023
@@ -48,8 +50,8 @@ brackets:
         2022-01-01: 6_130 # 15_290 - 9_160
         2023-01-01: 6_570 # 16_370 - 9_800
         2024-01-01: 6_920 # 17_250 - 10_330 
+        2025-01-01: 7_710 # 17_730 - 10_620
         # CBO forecast.
-        2025-01-01: 7_100
         2026-01-01: 7_250
         2027-01-01: 7_400
         2028-01-01: 7_550
@@ -86,8 +88,8 @@ brackets:
         2022-01-01: 6_130 # 26_260 - 20_130
         2023-01-01: 6_560 # 28_120 - 21_560
         2024-01-01: 6_920 # 29_640 - 22_720
+        2025-01-01: 7_120 # 30_470 - 23_350
         # CBO forecast.
-        2025-01-01: 7_100
         2026-01-01: 7_250
         2027-01-01: 7_400
         2028-01-01: 7_550
diff --git a/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/max_investment_income.yaml b/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/max_investment_income.yaml
index de2092557c1..b9fc84caee9 100644
--- a/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/max_investment_income.yaml
+++ b/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/max_investment_income.yaml
@@ -5,6 +5,8 @@ metadata:
   label: EITC maximum investment income
   uprating: gov.irs.uprating
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=9
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=10
     - title: 2023 IRS data release
@@ -30,3 +32,4 @@ values:
   2022-01-01: 10_300
   2023-01-01: 11_000
   2024-01-01: 11_600
+  2025-01-01: 11_950
diff --git a/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/start.yaml b/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/start.yaml
index 81f4928eab9..2ed91be21c5 100644
--- a/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/start.yaml
+++ b/policyengine_us/parameters/gov/irs/credits/eitc/phase_out/start.yaml
@@ -5,6 +5,8 @@ metadata:
   amount_unit: currency-USD
   label: EITC phase-out start by number of children
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=9
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=10
     - title: 2023 IRS data release
@@ -47,8 +49,8 @@ brackets:
         2022-01-01: 9_160
         2023-01-01: 9_800
         2024-01-01: 10_330
+        2025-01-01: 10_620
         # CBO forecast.
-        2025-01-01: 10_600
         2026-01-01: 10_830
         2027-01-01: 11_050
         2028-01-01: 11_270
@@ -75,8 +77,8 @@ brackets:
         2022-01-01: 20_130
         2023-01-01: 21_560
         2024-01-01: 22_720
+        2025-01-01: 23_350
         # CBO forecast.
-        2025-01-01: 23_300
         2026-01-01: 23_810
         2027-01-01: 24_310
         2028-01-01: 24_780
@@ -103,8 +105,8 @@ brackets:
         2022-01-01: 20_130
         2023-01-01: 21_560
         2024-01-01: 22_720
+        2025-01-01: 23_350
         # CBO forecast.
-        2025-01-01: 23_300
         2026-01-01: 23_810
         2027-01-01: 24_310
         2028-01-01: 24_780
@@ -131,8 +133,8 @@ brackets:
         2022-01-01: 20_130
         2023-01-01: 21_560
         2024-01-01: 22_720
+        2025-01-01: 23_350
         # CBO forecast.
-        2025-01-01: 23_300
         2026-01-01: 23_810
         2027-01-01: 24_310
         2028-01-01: 24_780
diff --git a/policyengine_us/parameters/gov/irs/credits/estate/base.yaml b/policyengine_us/parameters/gov/irs/credits/estate/base.yaml
index c1975138a83..43b39720669 100644
--- a/policyengine_us/parameters/gov/irs/credits/estate/base.yaml
+++ b/policyengine_us/parameters/gov/irs/credits/estate/base.yaml
@@ -4,6 +4,8 @@ metadata:
   label: Estate tax credit base exclusion amount  
   period: year
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=18
     - title: 26 U.S. Code § 2010 - Unified credit against estate tax - (c)(3)(A)
       href: https://www.law.cornell.edu/uscode/text/26/2010
     - title: What's New - Estate and Gift Tax - Basic Exclusion Amount for Year of Death
@@ -51,4 +53,5 @@ values:
   2021-01-01: 11_700_000  
   2022-01-01: 12_060_000  
   2023-01-01: 12_920_000  
-  2024-01-01: 13_610_000  
+  2024-01-01: 13_610_000
+  2025-01-01: 13_990_000  
diff --git a/policyengine_us/parameters/gov/irs/deductions/qbi/phase_out/start.yaml b/policyengine_us/parameters/gov/irs/deductions/qbi/phase_out/start.yaml
index 848b4956fb3..2ad7ae5fb7f 100644
--- a/policyengine_us/parameters/gov/irs/deductions/qbi/phase_out/start.yaml
+++ b/policyengine_us/parameters/gov/irs/deductions/qbi/phase_out/start.yaml
@@ -6,6 +6,8 @@ metadata:
   breakdown:
     - filing_status
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=15  
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=17
     - title: 2023 IRS data release
@@ -26,6 +28,7 @@ HEAD_OF_HOUSEHOLD:
   2022-01-01: 170_050
   2023-01-01: 182_100
   2024-01-01: 191_950
+  2025-01-01: 197_300
   2026-01-01: 0
 JOINT:
   2013-01-01: 0
@@ -36,6 +39,7 @@ JOINT:
   2022-01-01: 340_100
   2023-01-01: 364_200
   2024-01-01: 383_900
+  2025-01-01: 394_600
   2026-01-01: 0
 SEPARATE:
   2013-01-01: 0
@@ -46,6 +50,7 @@ SEPARATE:
   2022-01-01: 170_050
   2023-01-01: 182_100
   2024-01-01: 191_950
+  2025-01-01: 197_300
   2026-01-01: 0
 SINGLE:
   2013-01-01: 0
@@ -56,6 +61,7 @@ SINGLE:
   2022-01-01: 170_050
   2023-01-01: 182_100
   2024-01-01: 191_950
+  2025-01-01: 197_300
   2026-01-01: 0
 SURVIVING_SPOUSE:
   2013-01-01: 0
@@ -66,4 +72,5 @@ SURVIVING_SPOUSE:
   2022-01-01: 340_100
   2023-01-01: 364_200
   2024-01-01: 383_900
+  2025-01-01: 394_600
   2026-01-01: 0
diff --git a/policyengine_us/parameters/gov/irs/deductions/standard/aged_or_blind/amount.yaml b/policyengine_us/parameters/gov/irs/deductions/standard/aged_or_blind/amount.yaml
index 10e2b5aa358..25bb0ff89f2 100644
--- a/policyengine_us/parameters/gov/irs/deductions/standard/aged_or_blind/amount.yaml
+++ b/policyengine_us/parameters/gov/irs/deductions/standard/aged_or_blind/amount.yaml
@@ -6,8 +6,8 @@ SINGLE:
   2022-01-01: 1_750
   2023-01-01: 1_850
   2024-01-01: 1_950
-  # CBO forecast.
   2025-01-01: 2_000
+  # CBO forecast.
   2025-02-01: 2_050
   2025-03-01: 2_100
   2025-04-01: 2_150
@@ -24,8 +24,8 @@ JOINT:
   2022-01-01: 1_400
   2023-01-01: 1_500
   2024-01-01: 1_550
-  # CBO forecast.
   2025-01-01: 1_600
+  # CBO forecast.
   2025-02-01: 1_650
   2025-03-01: 1_650
   2025-04-01: 1_700
@@ -42,8 +42,8 @@ SEPARATE:
   2022-01-01: 1_400
   2023-01-01: 1_500
   2024-01-01: 1_550
-  # CBO forecast.
   2025-01-01: 1_600
+  # CBO forecast.
   2025-02-01: 1_650
   2025-03-01: 1_650
   2025-04-01: 1_700
@@ -60,8 +60,8 @@ HEAD_OF_HOUSEHOLD:
   2022-01-01: 1_750
   2023-01-01: 1_850
   2024-01-01: 1_950
-  # CBO forecast.
   2025-01-01: 2_000
+  # CBO forecast.
   2025-02-01: 2_050
   2025-03-01: 2_100
   2025-04-01: 2_150
@@ -78,8 +78,8 @@ SURVIVING_SPOUSE:
   2022-01-01: 1_400
   2023-01-01: 1_500
   2024-01-01: 1_550
-  # CBO forecast.
   2025-01-01: 1_600
+  # CBO forecast.
   2026-01-01: 1_650
   2027-01-01: 1_650
   2028-01-01: 1_700
@@ -96,6 +96,8 @@ metadata:
   label: Additional standard deduction for the blind and aged
   period: year
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=12  
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=14
     - title: 2023 IRS data release
diff --git a/policyengine_us/parameters/gov/irs/deductions/standard/amount.yaml b/policyengine_us/parameters/gov/irs/deductions/standard/amount.yaml
index 7f13156ddc9..67d0f192b10 100644
--- a/policyengine_us/parameters/gov/irs/deductions/standard/amount.yaml
+++ b/policyengine_us/parameters/gov/irs/deductions/standard/amount.yaml
@@ -8,8 +8,8 @@ SINGLE:
   2022-01-01: 12_950
   2023-01-01: 13_850
   2024-01-01: 14_600
+  2025-01-01: 15_000
   # CBO forecast.
-  2025-01-01: 14_950
   2026-01-01: 8_300
   2027-01-01: 8_450
   2028-01-01: 8_600
@@ -27,8 +27,8 @@ JOINT:
   2022-01-01: 25_900
   2023-01-01: 27_700
   2024-01-01: 29_200
+  2025-01-01: 30_000
   # CBO forecast.
-  2025-01-01: 29_900
   2026-01-01: 16_600
   2027-01-01: 16_900
   2028-01-01: 17_200
@@ -46,8 +46,8 @@ SEPARATE:
   2022-01-01: 12_950
   2023-01-01: 13_850
   2024-01-01: 14_600
+  2025-01-01: 15_000
   # CBO forecast.
-  2025-01-01: 14_950
   2026-01-01: 8_300
   2027-01-01: 8_450
   2028-01-01: 8_600
@@ -65,8 +65,8 @@ HEAD_OF_HOUSEHOLD:
   2022-01-01: 19_400
   2023-01-01: 20_800
   2024-01-01: 21_900
+  2025-01-01: 22_500
   # CBO forecast.
-  2025-01-01: 22_450
   2026-01-01: 12_150
   2027-01-01: 12_400
   2028-01-01: 12_650
@@ -84,8 +84,8 @@ SURVIVING_SPOUSE:
   2022-01-01: 25_900
   2023-01-01: 27_700
   2024-01-01: 29_200
+  2025-01-01: 30_000
   # CBO forecast.
-  2025-01-01: 29_900
   2026-01-01: 16_600
   2027-01-01: 16_900
   2028-01-01: 17_200
@@ -102,6 +102,8 @@ metadata:
   breakdown:
     - filing_status
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=12  
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=14
     - title: 2023 IRS data release
diff --git a/policyengine_us/parameters/gov/irs/deductions/standard/dependent/additional_earned_income.yaml b/policyengine_us/parameters/gov/irs/deductions/standard/dependent/additional_earned_income.yaml
index 6326ceae8f2..af989c256be 100644
--- a/policyengine_us/parameters/gov/irs/deductions/standard/dependent/additional_earned_income.yaml
+++ b/policyengine_us/parameters/gov/irs/deductions/standard/dependent/additional_earned_income.yaml
@@ -2,9 +2,12 @@ description: Addition to earned income for the standard deduction if claimed as
 values:
   0001-01-01: 350
   2022-01-01: 400
+  2025-01-01: 450
 metadata:
   unit: currency-USD
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=12  
     - title: 2023 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-22-38.pdf#page=13
     - title: 2022 IRS data release
diff --git a/policyengine_us/parameters/gov/irs/deductions/standard/dependent/amount.yaml b/policyengine_us/parameters/gov/irs/deductions/standard/dependent/amount.yaml
index 44d7c26b84c..0e1c00559ac 100644
--- a/policyengine_us/parameters/gov/irs/deductions/standard/dependent/amount.yaml
+++ b/policyengine_us/parameters/gov/irs/deductions/standard/dependent/amount.yaml
@@ -5,8 +5,8 @@ values:
   2022-01-01: 1_150
   2023-01-01: 1_250
   2024-01-01: 1_300
-  # CBO forecast.
   2025-01-01: 1_350
+  # CBO forecast.
   2026-01-01: 1_350
   2027-01-01: 1_400
   2028-01-01: 1_400
@@ -19,6 +19,8 @@ values:
 metadata:
   unit: currency-USD
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=12 
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=14
     - title: 2023 IRS data release
diff --git a/policyengine_us/parameters/gov/irs/income/amt/brackets.yaml b/policyengine_us/parameters/gov/irs/income/amt/brackets.yaml
index 068fafac53b..dd11ccb5d0b 100644
--- a/policyengine_us/parameters/gov/irs/income/amt/brackets.yaml
+++ b/policyengine_us/parameters/gov/irs/income/amt/brackets.yaml
@@ -7,6 +7,8 @@ metadata:
   reference:
     - title: 26 U.S. Code § 55 - Alternative minimum tax imposed (b)(1)(A)
       href: https://www.law.cornell.edu/uscode/text/26/55#b_1_A
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=10
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=12
     - title: 2023 IRS data release
@@ -40,8 +42,8 @@ brackets:
         2022-01-01: 206_100
         2023-01-01: 220_700
         2024-01-01: 232_600
+        2025-01-01: 239_100
         # CBO forecast.
-        2025-01-01: 238_500
         2026-01-01: 243_800
         2027-01-01: 248_800
         2028-01-01: 253_700
diff --git a/policyengine_us/parameters/gov/irs/income/amt/exemption/amount.yaml b/policyengine_us/parameters/gov/irs/income/amt/exemption/amount.yaml
index 5454103375b..f6d52caf828 100644
--- a/policyengine_us/parameters/gov/irs/income/amt/exemption/amount.yaml
+++ b/policyengine_us/parameters/gov/irs/income/amt/exemption/amount.yaml
@@ -4,6 +4,8 @@ metadata:
   period: year
   uprating: gov.irs.uprating
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=10
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=11
     - title: 2023 IRS data release
@@ -34,8 +36,8 @@ HEAD_OF_HOUSEHOLD:
     2022-01-01: 75_900
     2023-01-01: 81_300
     2024-01-01: 85_700
+    2025-01-01: 88_100
     # CBO forecast.
-    2025-01-01: 87_900
     2026-01-01: 70_500
     2027-01-01: 71_900
     2028-01-01: 73_300
@@ -59,8 +61,8 @@ JOINT:
     2022-01-01: 118_100
     2023-01-01: 126_500
     2024-01-01: 133_300
+    2025-01-01: 137_000
     # CBO forecast.
-    2025-01-01: 136_700
     2026-01-01: 109_700
     2027-01-01: 112_000
     2028-01-01: 114_200
@@ -84,8 +86,8 @@ SEPARATE:
     2022-01-01: 59_050
     2023-01-01: 63_250
     2024-01-01: 66_650
+    2025-01-01: 68_500
     # CBO forecast.
-    2025-01-01: 68_350
     2026-01-01: 54_850
     2027-01-01: 56_000
     2028-01-01: 57_100
@@ -109,8 +111,8 @@ SINGLE:
     2022-01-01: 75_900
     2023-01-01: 81_300
     2024-01-01: 85_700
+    2025-01-01: 88_100
     # CBO forecast.
-    2025-01-01: 87_900
     2026-01-01: 70_500
     2027-01-01: 71_900
     2028-01-01: 73_300
@@ -134,8 +136,8 @@ SURVIVING_SPOUSE:
     2022-01-01: 118_100
     2023-01-01: 126_500
     2024-01-01: 133_300
+    2025-01-01: 137_000
     # CBO forecast.
-    2025-01-01: 136_700
     2026-01-01: 109_700
     2027-01-01: 112_000
     2028-01-01: 114_200
diff --git a/policyengine_us/parameters/gov/irs/income/amt/exemption/child/amount.yaml b/policyengine_us/parameters/gov/irs/income/amt/exemption/child/amount.yaml
index 5a0c7546128..c83d5d1622d 100644
--- a/policyengine_us/parameters/gov/irs/income/amt/exemption/child/amount.yaml
+++ b/policyengine_us/parameters/gov/irs/income/amt/exemption/child/amount.yaml
@@ -3,6 +3,8 @@ metadata:
   unit: currency-USD
   period: year
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=11
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=11
     - title: 2023 IRS data release
@@ -29,3 +31,4 @@ values:
   2022-01-01: 8_200
   2023-01-01: 8_800
   2024-01-01: 9_250
+  2025-01-01: 9_550
diff --git a/policyengine_us/parameters/gov/irs/income/amt/exemption/phase_out/start.yaml b/policyengine_us/parameters/gov/irs/income/amt/exemption/phase_out/start.yaml
index b77c787004c..5576968d1fd 100644
--- a/policyengine_us/parameters/gov/irs/income/amt/exemption/phase_out/start.yaml
+++ b/policyengine_us/parameters/gov/irs/income/amt/exemption/phase_out/start.yaml
@@ -9,6 +9,8 @@ metadata:
     # TCJA amendment.
     - title: 26 U.S. Code § 55 - Alternative minimum tax imposed (d)(4)(A)(ii)
       href: https://www.law.cornell.edu/uscode/text/26/55#d_4_A_ii
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=11  
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=13
     - title: 2023 IRS data release
@@ -36,8 +38,8 @@ HEAD_OF_HOUSEHOLD:
     2022-01-01: 539_900
     2023-01-01: 578_150
     2024-01-01: 609_350
+    2025-01-01: 626_350
     # CBO forecast.
-    2025-01-01: 624_900
     2026-01-01: 156_700
     2027-01-01: 160_000
     2028-01-01: 163_100
@@ -61,8 +63,8 @@ JOINT:
     2022-01-01: 1_079_800
     2023-01-01: 1_156_300
     2024-01-01: 1_218_700
+    2025-01-01: 1_252_700
     # CBO forecast.
-    2025-01-01: 1_249_800
     2026-01-01: 209_000
     2027-01-01: 213_300
     2028-01-01: 217_400
@@ -86,8 +88,8 @@ SEPARATE:
     2022-01-01: 539_900
     2023-01-01: 578_150
     2024-01-01: 609_350
+    2025-01-01: 626_350
     # CBO forecast.
-    2025-01-01: 624_900
     2026-01-01: 104_500
     2027-01-01: 106_650
     2028-01-01: 108_700
@@ -111,8 +113,8 @@ SINGLE:
     2022-01-01: 539_900
     2023-01-01: 578_150
     2024-01-01: 609_350
+    2025-01-01: 626_350
     # CBO forecast.
-    2025-01-01: 624_900
     2026-01-01: 156_700
     2027-01-01: 160_000
     2028-01-01: 163_100
@@ -136,8 +138,8 @@ SURVIVING_SPOUSE:
     2022-01-01: 1_079_800
     2023-01-01: 1_156_300
     2024-01-01: 1_218_700
+    2025-01-01: 1_252_700
     # CBO forecast.
-    2025-01-01: 1_249_800
     2026-01-01: 209_000
     2027-01-01: 213_300
     2028-01-01: 217_400
diff --git a/policyengine_us/parameters/gov/irs/income/amt/exemption/separate_limit.yaml b/policyengine_us/parameters/gov/irs/income/amt/exemption/separate_limit.yaml
index cd9de4855fb..83d12a20830 100644
--- a/policyengine_us/parameters/gov/irs/income/amt/exemption/separate_limit.yaml
+++ b/policyengine_us/parameters/gov/irs/income/amt/exemption/separate_limit.yaml
@@ -3,6 +3,8 @@ metadata:
   unit: currency-USD
   uprating: gov.irs.uprating
   reference:
+    - title: 2025 IRS data release
+      href: https://www.irs.gov/pub/irs-drop/rp-24-40.pdf#page=11
     - title: 2024 IRS data release
       href: https://www.irs.gov/pub/irs-drop/rp-23-34.pdf#page=13
     - title: 2023 IRS data release
@@ -26,4 +28,5 @@ values:
   2022-01-01: 776_100
   2023-01-01: 831_150
   2024-01-01: 875_950
+  2025-01-01: 900_350
   2026-01-01: 288_949


Test patch:
diff --git a/policyengine_us/tests/policy/contrib/states/ny/ny_working_families_tax_credit.yaml b/policyengine_us/tests/policy/contrib/states/ny/ny_working_families_tax_credit.yaml
index d2309aa1f0e..9814c04d7f9 100644
--- a/policyengine_us/tests/policy/contrib/states/ny/ny_working_families_tax_credit.yaml
+++ b/policyengine_us/tests/policy/contrib/states/ny/ny_working_families_tax_credit.yaml
@@ -77,7 +77,7 @@
   output:
     # ny_wftc_eligible_children: 0
     # ny_working_families_tax_credit: 0
-    ny_eitc: 950
+    ny_eitc: 954.59906
     ny_ctc: 330
     ny_exemptions: 1_000
 
@@ -115,7 +115,7 @@
   output:
     ny_wftc_eligible_children: 1
     ny_working_families_tax_credit: 550
-    ny_eitc: 625
+    ny_eitc: 629.0825
     ny_ctc: 0
     ny_exemptions: 1_000
 
@@ -357,8 +357,8 @@
         members: [person1, person2, person3]
         state_code: NY
   output:
-    eitc: 5_724
-    ny_eitc: 1_687 # 30% of federal credit
+    eitc: 5_751.51
+    ny_eitc: 1_695.453 # 30% of federal credit
 
 
 - name: Integration test - single parent of two - ages 5 and 10 - 30k income
@@ -395,10 +395,10 @@
         state_code: NY
   output:
     younger_eitc_eligible: 1
-    younger_eitc: 5_076
+    younger_eitc: 5_102.51
     older_eitc: 0
     ny_wftc_eligible_children: 2
-    ny_eitc: 1_036
+    ny_eitc: 1_041.527
     ny_working_families_tax_credit: 1_600
 
 
@@ -438,11 +438,11 @@
         state_code: NY
   output:
     younger_eitc_eligible: 1
-    younger_eitc: 2_818
+    younger_eitc: 2_824
     eitc_older_demographic_eligible: 1
-    older_eitc: 4_318
+    older_eitc: 4_328
     ny_wftc_eligible_children: 1
-    ny_eitc: 1_887
+    ny_eitc: 1_891.44
     ny_working_families_tax_credit: 800
 
 - name: Base test - single parent of two - ages 5 and 20 (student) - 30k income
@@ -470,7 +470,7 @@
         members: [person1, person2, person3]
         state_code: NY
   output:
-    ny_eitc: 2_140
+    ny_eitc: 2_145.6
 
 - name: After 2028, only children under 18 are eligible for the NY WFTC
   period: 2029