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IRS adjusts 2027 federal income tax brackets for inflation

FinanceInternationalUSA TodayAI summary
Image: USA Today

The IRS will raise all seven federal income tax brackets for 2027 to adjust for inflation, while tax rates stay the same. With higher thresholds, taxpayers may be able to earn a little more without moving into a higher rate when they file in 2028. The top 37% rate applies to incomes over $661,375 ($793,650 for married couples filing jointly). The standard deduction rises to $33,200 for couples and $16,600 for single filers, and the lifetime gift and estate exemption reaches $15.48 million per person.

In 40 seconds

  • All seven federal brackets rise for 2027 due to inflation adjustment; rates are unchanged.
  • The 37% rate applies from $661,375 for single filers and $793,650 for couples.
  • The standard deduction rises to $33,200 for couples and $16,600 for single filers.
Read the full story at USA Today

IASummary generated by artificial intelligence from a story by USA Today. It may contain errors: the original source prevails.

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