The IRS announced new federal income tax brackets and standard deductions for 2027 in early November. The agency adjusted several numbers, which apply to tax year 2027 for returns filed in 2028. |
Other Highlights The standard deduction will also increase in 2027, rising to $33,200 for married couples filing jointly, up from $32,200 in 2026. Starting in 2027, single filers can claim $16,600, a bump up from $16,100. The AMT exemption amount for 2027 is $93,000 for singles and $144,700 for married couples filing jointly. The IRS also provided updates for the Earned Income Tax Credit, the Child Tax Credit, and other deductions and credits. Understanding how changes to the 2027 tax brackets may affect your financial picture is an important part of planning for the year ahead. Now is a great time to explore what these updates could mean and discuss changes with your tax, legal, or accounting professional. Riggle Wealth Group can also help you understand what these changes could mean for your broader financial strategy and work alongside you and what you're learning from your tax advisor to ensure your financial strategy is aligned with your goals. For professional tax guidance and preparation, we encourage you to consider Miller Brown Ohm CPAs. A team of tax and accounting professionals conveniently located on the Riggle Wealth Group campus at 100 Filbert Street in Hanover, PA. |
IRS.gov, 2026 |
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This email is for informational purposes only and is not a replacement for real-life advice. Consult your tax, legal, and accounting professionals before modifying your tax strategy based on any changes announced by the IRS.