The standard deduction is rising to $32,200 for married couples filing jointly in 2026, an increase of $700 over 2025.

(CNN)– The Internal Revenue Service (IRS) is making changes that will affect your federal taxes this year and next. The tax return line item updates announced Thursday, Oct. 9, are based on the effects of inflation, but also due to provisions in the new tax law enacted in July.

Despite its partial closure amid the government shutdown, the Internal Revenue Service on Thursday released details of its 2026 tax brackets and the dollar value of the standard deduction.

The Internal Revenue Service unveiled Thursday its 2026 federal income tax brackets and deductions for the new tax year.

The Internal Revenue Service has revealed inflation adjustments for tax year 2026, affecting more than 60 tax provisions.

Wondering how much you’ll pay in taxes next year? The Internal Revenue Service has released the 2026 tax brackets, providing American taxpayers with insight into inflation adjustments and income thresholds as well as how the tax brackets will affect taxpayers across all income levels.

IRS released annual updates for tax year 2026, adjusting tax brackets, standard deductions, estate tax exclusions and various credits for inflation and the One Big Beautiful Bill Act.

Both the tax brackets and the standard deduction for the 2026 tax year, which is filed in 2027, have increased to reflect inflation. Other changes from the 'One Big Beautiful Bill' have also been announced,

Treasury Secretary and acting Internal Revenue Service Commissioner Scott Bessent selected Social Security Administration Commissioner Frank Bisignano to lead the IRS after months of turnover at the tax agency’s helm.