IRS raises the 2027 standard deduction to $33,200 for joint filers, up $1,000
The deduction is $16,600 for single and separate filers and $24,925 for heads of households. The maximum child tax credit rises to $2,300, up $100, and the refundable amount is $1,800, also up $100.
By James Mitchell ·
Why it matters: The higher standard deduction and child tax credit change the amounts filers can subtract or claim for tax year 2027, with returns generally filed in 2028.
For information only, not investment advice.
The IRS raised the 2027 standard deduction to $33,200 for joint filers, up $1,000 from 2026, and to $16,600 for single and separate filers, and to $24,925 for heads of households.1 The maximum child tax credit is $2,300, up $100, and the refundable amount is $1,800, also up $100.1
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Tags: inflation