The Internal Revenue Service announced inflation adjustments for nearly 70 tax provisions
The IRS announced inflation adjustments to nearly 70 tax provisions for tax year 2027, generally affecting returns filed in 2028. Bracket thresholds will rise about 3.2%, and tax rates remain unchanged, according to the Wall Street Journal and Kiplinger. The standard deduction will be $16,600 for single filers and $33,200 for joint filers, and the maximum child tax credit will increase to $2,300.
More context
The Internal Revenue Service announced inflation adjustments for nearly 70 tax provisions for tax year 2027, including income-tax brackets, the standard deduction and the child tax credit. The changes generally apply to returns filed in 2028, and Revenue Procedure 2026-35 provides details. The Wall Street Journal reported that bracket thresholds will rise about 3.2%; the seven marginal tax rates remain unchanged, ranging from 10% to 37%. The 37% rate will apply to individual taxpayers with taxable income above $661,375 and married couples filing jointly above $793,650. The standard deduction will increase to $16,600 for single filers and $33,200 for joint filers. The maximum child tax credit will rise to $2,300 from $2,200, and its maximum refundable portion will increase to $1,800 from $1,700.
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Reporting
- The Wall Street Journal — The 2027 Tax Brackets Are Here. See Where You Land. - WSJ
- CNBC — 2027 tax brackets and federal income tax rates
- MarketWatch — The 2027 tax brackets are out. See what the standard deduction and SALT tax breaks will be. - MarketWatch
- thecollegeinvestor.com — 2027 Tax Brackets And Standard Deduction From The IRS
- journalofaccountancy.com — IRS announces inflation adjustments for tax year 2027
- kiplinger.com — New IRS 2027 Tax Brackets Are Set: What the Rates Mean for Your Taxes | Kiplinger
- irs.gov — IRS releases tax inflation adjustments for tax year 2027; taxpayers continue to benefit from the Working Families Tax Cuts | Internal Revenue Service
Verifier’s note
The College Investor, Journal of Accountancy, WSJ, Kiplinger, MarketWatch, CNBC, and the IRS all report the IRS’s 2027 tax-bracket adjustments, consistent with the proposed event. These results are dated November 5, 2026, and CNBC also reports changes to long-term capital-gains brackets.