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Cheddar News
  • 3 months ago
The IRS has released updated federal income tax brackets and standard deductions for the 2026 tax year, which will apply to returns filed in 2027.

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00:00The IRS has released updated federal income tax brackets and standard deductions for the
00:052026 tax year, which will apply to returns filed in 2027.
00:10Income thresholds have been raised across all brackets, with a top 37% rate starting
00:15at $640,600 for individuals and $768,700 for married couples filing jointly.
00:24The standard deduction will increase to $32,200 for joint filers and $16,100 for single filers.
00:33These announcements follow news that the IRS will furlough nearly half its workforce amid
00:38the government shutdown.
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