IRS announces new federal income tax brackets for 2027

IRS announces new federal income tax brackets for 2027 Advertisement Updated: 8:53 AM EST Nov 6, 2026 Editorial Standards ⓘ Sydney Hartman Digital Curator IRS announces new federal income tax brackets for 2027 Updated: 8:53 AM EST Nov 6, 2026 Editorial Standards ⓘ Sydney Hartman Digital Curator WASHINGTON — The IRS on Thursday announced new federal income tax brackets for 2027. Related video above: What to know about 401(k) early withdrawals Advertisement The higher income thresholds were adjusted for inflation, according to a news release from the IRS. Marginal tax rates for 2027 listed below: 10% for single individuals with incomes of $12,800 or less; $25,600 for married couples filing jointly 12% for single individuals with incomes over $12,800; $25,600 for married couples filing jointly 22% for single individuals with incomes over $52,025; $104,050 for married couples filing jointly 24% for single individuals with incomes over $109,125; $218,250 for married couples filing jointly 32% for single individuals with incomes over $208,325; $416,650 for married couples filing jointly 35% for single individuals with incomes over $264,550; $529,100 for married couples filing jointly 37% for single individuals with incomes over $661,375; 793,650 for married couples filing jointly The standard deduction, which is applied by about 9 of 10 taxpayers, is also rising in 2027, according to the IRS. The standard deduction for next year will increase to $33,200 for married couples filing jointly, up $1,000 from 2026. The standard deduction will rise to $16,600 for single taxpayers and married individuals filing separately. The standard deduction will be $24,925 for heads of households. Child tax credit The child tax credit will increase by $100 to $2,300 in 2027. The amount of credit that may be refundable is $1,800, also up $100 from last year. Annual Exclusion for Gifts The annual exclusion for gifts will increase to $20,000 in 2027, up from $19,000 in 2026. How the Trump administration's revamped healthcare price transparency rules could impact patients Make WLWT a preferred source on Google Add Preferred Source Share Infinite Scroll Enabled Top Picks 19-year-old to become of Massachusetts' youngest representatives in state history Dramatic video: Mother rescues man drowning 'We brought him home': A WWII soldier killed 82 years ago has finally been laid to rest New video shows NTSB investigators recovering Learjet wreckage pieces from Florida crash crater