• TRM (USD/COP)COP 3,221.19 -0.45% -COP 14.40Colombia's official exchange rate (Financial Superintendence), valid Nov 5 to Nov 5
  • EuroCOP 3,615.46 -0.82% -COP 30.07Reference: TRM crossed with the European Central Bank rate of Nov 5; not the market quote
  • Mexican pesoCOP 173.27 -0.14% -COP 0.25Reference: TRM crossed with the European Central Bank rate of Nov 5; not the market quote

IRS announces new federal income tax brackets and standard deductions for 2027

FinanceInternationalCNBCAI summary
Image: CNBC

The IRS announced the new federal income tax brackets and standard deductions for 2027, which apply to returns filed in 2028. The top 37% rate applies to individuals with taxable income above $661,375 and to married couples filing jointly earning $793,650 or more. The standard deduction rises to $33,200 for married couples filing jointly and to $16,600 for single filers. The agency also adjusted long-term capital gains brackets, the estate and gift tax exemption and eligibility for the earned income tax credit.

In 40 seconds

  • The top 37% rate applies from $661,375 for single filers and $793,650 for married couples filing jointly.
  • The standard deduction rises to $33,200 for married couples filing jointly and $16,600 for single filers in 2027.
  • The IRS also adjusted long-term capital gains brackets, the estate and gift tax exemption and the earned income tax credit.
Read the full story at CNBC

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

Comments

Be respectful. Comments reported by several people are hidden until a moderator reviews them.

You do not need an account to read, only to comment. Sign in with a code sent to your email or with your Google account. We only show the name you choose, never your email.

    Keep reading