Current Tax rates
Current rates information provided by Tax Foundation
2026 Tax Brackets
Income Tax Brackets and Rates
The 2026 income ceiling for all listed tax brackets and for all filers, adjusted for inflation are listed below. The Seven federal income tax rates for 2026 are... 10% - 12% - 22% - 24% - 32% - 35% - 37% (no changes from 2025). The marginal income tax rate of 37% will apply to taxpayers with taxable income above $640,600 (single filers), and $768,700 is the target for married couples filing jointly...(SEE Table 1)
Table 1. Tax Brackets and Rates, 2026 (Source: IRS)
Standard Deduction & Personal Exemption
2026 has standard deductions for single filers increasing by $350; $700 for married couples filing jointly. Seniors over the age of 65 are eligible to claim an additional standard deduction of $2,050 for single filers and $1,650 for joint filers. Personal exemptions for 2026 remains at $0 (this is due to the personal exemption from the Tax Cuts and Jobs Act 2017 )
Table 2. 2026 Standard Deduction and Personal Exemption (Source: IRS)
Alternative Minimum Tax
Created in the 1960s, The Alternative Minimum Tax (AMT) was setup to prevent high-income taxpayers from avoiding the individual income tax. This parallel tax income system requires high-income taxpayers to calculate their tax bill twice: once under the ordinary income tax system and again under the AMT. The taxpayer then needs to pay the higher of the two. More information can be found at IRS.Gov (SEE Table 3).
Table 3. 2026 Alternative Minimum Tax Exemptions (Source:IRS)
2026 keeps the AMT rate at 28%. This rate applies to excess
AMTI of $244,500 for all taxpayers ($122,250 for married couples who file separate
returns).
The AMT exemptions phase out at 50 cents per dollar earned once a taxpayers AMTI reaches $500,000 for single filers and $1,000,000 for married taxpayers filing jointly. In 2026, the exemption will start phasing out at $626,350 in AMTI for single filers and $1,252,700 for married taxpayers filing jointly (SEE Table 4).
Table 4. 2026 Alternative Minimum Tax Exemption Phaseout Thresholds
Earned Income Tax Credit
The 2026 Maximum Earned Income Tax Credit (EITC) for single and joint filers is $664 (no children) (SEE Table 5). The maximum credit is $4,427 for one child, $7,316 for two children, and $8,231 for three or more children.
Table 5. 2026 Earned Income Tax Credit Parameters
Qualified Business Income Deduction
Within the Tax Cuts and Jobs Act, there is an inclusion of a 20% deduction in 2026 for pass-through businesses with $201,775 of qualified business income for single taxpayers and $403,500 for married taxpayers filing jointly (SEE Table 6).
Table 6. 2026 Qualified Business Income Deduction Thresholds (Source: IRS)
Child Tax Credit
The maximum Child Tax Credit for 2026 is $2,200 per child who qualifies, with no adjustments for inflation. The amount that may be refunded for the Child Tax Credit is adjusted for inflation and will remain at $1,700 for 2026.
2026 Annual Exclusion for Gifts
For 2026, the first $19,000 of gifts to any person is excluded from tax. Exclusions are increased to $194,000 from $190,000 for gifts to spouses who're not citizens of the United States.
2026 Capital Gains Tax Rates & Brackets (Long-term Capital Gains)
Capital Gains, long term, are taxed using different rates and brackets compared to standard income.
Table 7. 2026 Capital Gains Tax Rates & Brackets (Source: IRS)
2025 Tax Brackets
Income Tax Brackets and Rates
The 2025 income ceiling for all listed tax brackets and for all filers, adjusted for inflation are listed below. The Seven federal income tax rates for 2025 are... 10% - 12% - 22% - 24% - 32% - 35% - 37% (no changes from 2023). The marginal income tax rate of 37% will apply to taxpayers with taxable income above $609,350 (single filers), and $731,200 is the target for married couples filing jointly...(SEE Table 1)
Table 1. Tax Brackets and Rates, 2025 (Source: IRS)
Standard Deduction & Personal Exemption
2025 has standard deductions for single filers increasing by $750; $1500 for married couples filing jointly. Seniors over the age of 65 are eligible to claim an additional standard deduction of $1,950 for single filers and $1,550 for joint filers. Personal exemptions for 2025 remains at ZERO (this is due to the personal exemption from the Tax Cuts and Jobs Act 2017 )
Table 2. 2025 Standard Deduction and Personal Exemption (Source: IRS)
Alternative Minimum Tax
Created in the 1960s, The Alternative Minimum Tax (AMT) was setup to prevent high-income taxpayers from avoiding the individual income tax. This parallel tax income system requires high-income taxpayers to calculate their tax bill twice: once under the ordinary income tax system and again under the AMT. The taxpayer then needs to pay the higher of the two. More information can be found at IRS.Gov (SEE Table 3).
Table 3. 2025 Alternative Minimum Tax Exemptions (Source:IRS)
2025 keeps the AMT rate at 28%. This rate applies to excess
AMTI of $232,600 for all taxpayers ($116,300 for married couples who file separate
returns).
The AMT exemptions phase out at 25 cents per dollar earned once a taxpayers AMTI hits a certain threshold. In 2025, the exemption will start phasing out at $609,350 in AMTI for single filers and $1,218,700 for married taxpayers filing jointly (SEE Table 4).
Table 4. 2025 Alternative Minimum Tax Exemption Phaseout Thresholds
Earned Income Tax Credit
The 2025 Maximum Earned Income Tax Credit (EITC) for single and joint filers is $632 (no children) (SEE Table 5). The maximum credit is $4,213 for one child, $6,960 for two children, and $7,830 for three or more children.
Table 5. 2025 Earned Income Tax Credit Parameters
Qualified Business Income Deduction
Within the Tax Cuts and Jobs Act, there is an inclusion of a 20% deduction in 2025 for pass-through businesses with $191,950 of qualified business income for single taxpayers and $383,900 for married taxpayers filing jointly (SEE Table 6).
Table 6. 2025 Qualified Business Income Deduction Thresholds (Source:IRS)
Child Tax Credit
The maximum Child Tax Credit for 2025 is $2,000 per child who qualifies, with no adjustments for inflation. The amount that may be refunded for the Child Tax Credit is adjusted for inflation and increases from $1,600 to $1,700 in 2025.
2025 Annual Exclusion for Gifts
For 2025, the first $18,000 of gifts to any person is excluded from tax. Exclusions are increased to $185,000 from $175,000 for gifts to spouses who're not citizens of the United States.
2025 Capital Gains Tax Rates & Brackets (Long-term Capital Gains)
Capital Gains, long term, are taxed using different rates and brackets compared to standard income.
Table 7. 2025 Capital Gains Tax Rates & Brackets (Source:IRS)