Reported about 11 hours ago
The IRS has unveiled the inflation-adjusted tax brackets and standard deductions for the 2026 tax year, which, while keeping marginal tax rates unchanged, may lower tax bills for some high earners due to increased income thresholds and deductions. For instance, a married couple with a $1 million adjusted gross income could see a tax reduction of over $2,000, emphasizing how the new brackets and deductions may significantly influence the tax obligations of wealthy individuals.
Source: YAHOO