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IRS announces new federal income tax brackets for 2027
WBAL-TV • • business
Key Points:
- The IRS announced inflation-adjusted federal income tax brackets for 2027, with marginal rates ranging from 10% to 37% based on income levels for single individuals and married couples filing jointly.
- The standard deduction will increase in 2027 to $33,200 for married couples filing jointly, $16,600 for single taxpayers and married individuals filing separately, and $24,925 for heads of households.
- The child tax credit will rise by $100 to $2,300 in 2027, with the refundable portion increasing to $1,800.
- The annual gift tax exclusion will increase to $20,000 in 2027, up from $19,000 in 2026.
