2027 Tax Filing Season Guide
Everything you need to know about filing your 2026 income taxes
Filing Season Opens
January 27, 2027
Tax Deadline
April 15, 2027
Extension Deadline
October 15, 2027
๐ 2026 Tax Brackets (For 2027 Filing)
| Tax Rate | Income Range |
|---|---|
| 10% | $0 - $12,400 |
| 12% | $12,401 - $50,400 |
| 22% | $50,401 - $105,700 |
| 24% | $105,701 - $201,775 |
| 32% | $201,776 - 256,225 |
| 35% | $256,226 - 640,600 |
| 37% | $640,600+ |
Single Filers
Married Filing Jointly
Head of Household
๐ฐ 2026 Standard Deductions
Single
$16,100
Married Filing Jointly
$32,200
Head of Household
$24,150
๐งฎ How Tax Calculation Works
Progressive Tax System
The US uses a progressive tax system, meaning different portions of your income are taxed at different rates. You don't pay the highest rate on all your income!
Example: Single Filer with $75,000 Income
First $12,400 ร 10%$1,240
Next $38,000 ($50,400 - $12,400) ร 12%$4,560
Remaining $85,00 ($58,900 - $50,400) ร 22%$1,870
Total Federal Tax$7,670
Effective Tax Rate10.23%
๐ 2026 Tax Year Updates (Estimate)
Key Changes
- โStandard deduction increased due to inflation adjustments
- โTax brackets adjusted for inflation
- โ401(k) contribution limit: $24,000 ๏ฝ $24,500 (under 50)
- โIRA contribution limit: $7,500 (under 50)
Important Reminders
- โ ๏ธChild Tax Credit: Up to $2,000 per qualifying child
- โ ๏ธEarned Income Tax Credit updated income limits
- โ ๏ธHealth Savings Account limit: $4,300 (individual)
- โ ๏ธSocial Security wage base: $174,900