WUSA9 reports that the IRS announced higher federal tax brackets for the 2027 tax year to adjust for inflation, along with a higher standard deduction and other changes to certain deductions and credits.
The adjustments will apply to tax returns filed in 2028. For tax year 2027, the standard deduction increases to $33,200 for married couples filing jointly, up $1,000 from 2026. For single taxpayers and married individuals filing separately, it rises to $16,600, and for heads of household it will be $24,925.