The IRS quietly released new tax brackets for 2026. Some Americans will save thousands while others won't be so lucky

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4. Increased tax credits and deductions

The IRS hasn’t just updated income thresholds to reflect inflation. It’s raising deductions across the board, including:

$16,100 for singles and married individuals filing separately

$24,150 for heads of household, and

$32,200 for married couples who file jointly.

The earned income tax credit is getting raised from $8,046 for the current tax year to $8,231 for families with at least three children in 2026. Older Americans could enjoy a bigger break in 2026 thanks to the new seniors’ tax deduction of $6,000 — one of the tax changes outlined in Trump’s One Big Beautiful Bill Act.