Every year the IRS adjusts tax brackets, deductions and credits for inflation. The 2027 amounts were announced on November 5, 2026. Most figures went up modestly, which generally means slightly less tax on the same income.
Standard Deduction for 2027
| Filing status | 2027 | 2026 |
|---|---|---|
| Married filing jointly | $33,200 | $32,200 |
| Head of household | $24,925 | $24,150 |
| Single | $16,600 | $16,100 |
| Married filing separately | $16,600 | $16,100 |
The additional deduction if you are 65 or older, or blind, rises to $1,700 — or $2,100 if you are unmarried.
2027 Tax Brackets
These rates apply to your taxable income — what remains after your deductions.
| Rate | Single — income over | Married filing jointly — income over |
|---|---|---|
| 10% | $0 | $0 |
| 12% | $12,800 | $25,600 |
| 22% | $52,025 | $104,050 |
| 24% | $109,125 | $218,250 |
| 32% | $208,325 | $416,650 |
| 35% | $264,550 | $529,100 |
| 37% | $661,375 | $793,650 |
Credits for 2027
Child Tax Credit
$2,300 per qualifying child, with up to $1,800 refundable — both up by $100 from 2026.
Earned Income Tax Credit — maximum amounts
| Qualifying children | 2027 maximum | 2026 maximum |
|---|---|---|
| Three or more | $8,496 | $8,231 |
| Two | $7,552 | $7,316 |
| One | $4,573 | $4,427 |
| None | $685 | $664 |
Other 2027 Figures
- Annual gift tax exclusion: $20,000 per recipient (up from $19,000)
- Estate tax basic exclusion: $15,480,000 (up from $15,000,000)
- Qualified business income deduction threshold: $208,300 for most filers, $416,600 married filing jointly
- Alternative Minimum Tax exemption: $93,000 single, $144,700 married filing jointly
Planning Ahead?
If your income, family or business is changing, it is worth a conversation before the year ends rather than after. Small adjustments made in time can make a real difference to what you owe.
Please note: this page is general information, not tax advice. Figures are taken from IRS Revenue Procedure 2026-35 and the accompanying IRS news release (IR-2026-133, November 5, 2026), and apply to tax year 2027 returns filed in 2028. Tax rules depend on your individual circumstances and the IRS may issue further guidance. Please speak with us about your own situation before making decisions based on anything here. Last reviewed November 2026.