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Cheddar News
  • 1 year ago
Some Americans could see lower federal income taxes next year due to an annual bracket adjustment by the IRS.
Transcript
00:00Some Americans could see lower federal income taxes next year due to an annual bracket adjustment by the IRS.
00:06On the downside, the relief could be more modest than in the past two years.
00:11The agency increasing the income thresholds for each bracket, which will kick in for returns filed in 2026.
00:18The highest tax rate of 37% will affect individuals with taxable incomes exceeding $626,350
00:27and married couples filing jointly earning more than $751,600
00:33or more additionally, the IRS has adjusted figures for various provisions
00:37including long-term capital gains brackets, estate and gift tax exemptions, and eligibility for the child tax credit.
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