The IRS announced new federal income tax brackets and standard deductions for 2027 in early November. The agency adjusted several numbers, which apply to tax year 2027 for returns filed in 2028. |
Other Highlights The standard deduction will also increase in 2027, rising to $33,200 for married couples filing jointly, up from $32,200 in 2026. Starting in 2027, single filers can claim $16,600, a bump up from $16,100. The AMT exemption amount for 2027 is $93,000 for singles and $144,700 for married couples filing jointly. The IRS also provided updates for the Earned Income Tax Credit, the Child Tax Credit, and other deductions and credits. Please let me know if you have any questions about the IRS updates or any other tax law changes. I’ll be happy to pass along any information that I might have. Also, this may be a good time to discuss the 2027 changes with your tax, legal, or accounting professional. |
IRS.gov, 2026 |
This email is for informational purposes only and is not a replacement for real-life advice. Consult your tax, legal, and accounting professionals before modifying your tax strategy based on any changes announced by the IRS.