Taxpayers will see higher income tax brackets and standard deductions in 2027 as the I-R-S adjusts for inflation.

The standard deduction is increasing by $500 for single filers, bringing it to $16,600 dollars.

Married couples filing jointly will see a one-thousand-dollar increase. Income tax brackets are also rising, while the Child Tax Credit is increasing by $100.

The IRS says the changes are intended to account for inflation and provide additional tax benefits.

Tax experts recommend reviewing the new figures to determine whether adjustments to paycheck withholding may be necessary.