IRS Announces 2027 Tax Year Brackets for Returns Filed in 2028

The IRS has announced the new tax brackets for tax year 2027. The standard deduction for married couples filing jointly will increase to $33,200, up $1,000 from 2026. For single taxpayers and married individuals filing separately, the standard deduction will rise to $16,600. The maximum amount of the child tax credit for 2027 will be $2,300, a $100 increase from 2026. The tax year 2027 adjustments will apply to tax returns filed in 2028. Click here to read the IRS' full announcement about 2027 tax adjustments.