The IRS has announced new federal income tax brackets and standard deductions for 2027
By FrontRow
In its announcement Thursday, the agency raised the income thresholds for each bracket, which apply to tax year 2027 for returns filed in 2028. The IRS also increased figures for other key provisions, including long-term capital gains brackets, the estate and gift tax exemption, and eligibility for the earned income tax credit, among others. For 2027, the top rate of 37% applies to individuals with taxable income above $661,375 and married couples filing jointly earning $793,650 or more.
