The IRS has announced updated federal income tax brackets and standard deductions for 2027, with the changes designed to keep pace with inflation.
At certain income levels, the brackets for individual filers will rise by several thousand dollars. For married couples filing jointly, the income thresholds are typically about twice those for single filers.
The standard deduction will also increase by $500 for single filers and by $1,000 for married couples filing jointly.
Taxpayers are being urged to review the new figures and decide whether their paycheck withholding should be adjusted.
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