Did your tax bracket just change? Here's what the IRS announced

The IRS has announced new federal income tax brackets for 2027, raising income thresholds to account for inflation.For single filers, the new tax brackets are: 10%: $12,800 or less 12%: $12,801 to $52,025 22%: $52,026 to $109,125 24%: $109,126 to $208,325 32%: $208,326 to $264,550 35%: $264,551 to $661,375 37%: More than $661,375The income thresholds are doubled for married couples filing jointly, except for the highest tax bracket.RELATED STORY | IRS reports record $5.6 trillion in tax collections, historic refundsThe changes apply to income earned in 2027, with taxpayers filing those returns in 2028.The IRS also announced an increase in the standard deduction, which reduces the amount of income subject to federal taxes.For married couples filing jointly, the deduction will rise to $33,200, an increase of $1,000 from 2026. Single filers will receive a standard deduction of $16,600, while heads of households can deduct $24,925.Families will also see an increase in the child tax credit,