US EditionIRS announces new federal income tax brackets for 2026
The IRS raised tax brackets and standard deductions to prevent bracket creep, adding new senior and tip exemptions that benefit millions of taxpayers, including a $6,000 senior deduction.
- On Thursday, the Internal Revenue Service announced annual inflation adjustments for more than 60 tax provisions for tax year 2026, affecting returns filed in 2027.
- To prevent bracket creep, the IRS raised income thresholds for inflation, with many changes influenced by the One Big Beautiful Bill Act.
- The IRS kept seven tax rates and set standard deductions at $32,200 for married couples filing jointly, $16,100 for single filers and $24,150 for heads of household.
- Many taxpayers will feel changes since about 90% take the standard deduction, and withholding tables effective for 2026 will affect returns filed in 2027.
- Beyond brackets, the IRS also raised the employer-provided childcare tax credit to $500,000, increased the Earned Income Credit, foreign-earned income exclusion, AMT exemption, and estate tax exclusion for 2026.
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IRS releases 2026 tax bracket changes to account for inflation
The Internal Revenue Service (IRS) released updated tax information for the 2026 tax year on Thursday. Specifically, the agency is adjusting over 60 tax-related items to account for inflation. These changes will apply to the 2026 tax year, which is the tax return you'll file in early 2027. These updates include changes to income tax brackets, standard deductions and tax credits. The IRS makes these inflation adjustments every year to prevent wha…
IRS makes changes due to tax law
By Jeanne Sahadi, CNN (CNN) — The IRS on Thursday announced adjustments it is making to a host of line items on your federal tax return for this year and next. Those updates are the result of changes in inflation but also due to provisions in the new tax law enacted in July. How the adjustments will affect you has everything to do with what deductions you take and what your taxable income will be. But, generally speaking, “many taxpayers will se…
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