General information only. Not tax, legal or investment advice. A planning idea named here is not a recommendation for any person. Prem Tax and Accounting Corp is a CPA firm, not a law firm. Tax rules change often and figures are for the tax year shown: confirm with the official source or a qualified adviser before you act. Read the full notice. Book a 10-minute call.

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Early planning for tax year 2027, in plain English

Tax year 2027 is the year you report in 2028. The IRS published most of its 2027 amounts on November 5, 2026, so we can already plan with them.

Prepared by Prem Tax and Accounting Corp. Last reviewed November 6, 2026. Figures as of November 6, 2026.

Most people report tax year 2027 on the return they file in 2028. The IRS released most 2027 amounts on November 5, 2026, and the Social Security Administration announced its numbers on October 14, 2026. A few amounts are still pending, so each guide here labels every figure as published, computed by us, or not yet published. People call Public Law 119-21 the One Big Beautiful Bill Act.

Looking ahead to 2027: what is new and what stays the same

A short look-ahead to tax year 2027: wider brackets, a larger standard deduction, year three of the temporary deductions and which amounts are unannounced.

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The 2027 numbers: published, computed or still to come

The 2027 tax figures so far: standard deduction, brackets, gift and estate amounts, HSA and Social Security, and what the IRS and Medicare have not published.

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The sunset countdown: what ends after 2028 and 2029

When the temporary tax breaks in Public Law 119-21 end: senior, tips, overtime and car-loan deductions after 2028, and the higher SALT cap after 2029.

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If you are still finishing this year, start with the 2026 year-end checklist. To see what lasts and what ends, read what stays and what ends. We list each change on our what changed page.

Common questions

Are the 2027 tax brackets published?

Yes. The IRS released them on November 5, 2026. The 2027 retirement limits and Medicare Part B premiums were not out as of that date.

Which temporary tax breaks end soon?

Deductions for seniors, tips, overtime pay and car-loan interest end after tax year 2028, and the higher state and local tax cap ends after 2029.

Official sources

Keep reading

Please read: general information only

This page gives general information and education about current federal and state tax topics, including recent legislation, planning ideas, retirement and annuity rules, and court decisions. It is not tax, legal, accounting, investment, insurance or other professional advice, and it is not a substitute for advice from a qualified CPA, attorney or other adviser who knows your facts. Reading it does not create a CPA-client or any other professional relationship with Prem Tax and Accounting Corp. Prem Tax and Accounting Corp is a CPA firm, not a law firm. It does not sell insurance or investment products, and it does not recommend, rate or sell any annuity, fund or other product. A planning idea, a strategy name or an example here is not a recommendation to take or avoid any action.

Tax rules, thresholds, rates and deadlines change often, and Congress, the IRS, the courts and the states change how they apply them. Guidance on recent legislation is still being issued. We checked the figures against the official sources named on the page on the date shown (last reviewed November 6, 2026), but we do not promise that this page is complete, current or free of errors, and we do not update it the moment a rule changes. Where the rules are unsettled or guidance is still pending we say so. Amounts for a future year are labelled planning figures until the IRS or another agency publishes them. Examples use invented numbers and are for illustration only.

To the fullest extent the law allows, Prem Tax and Accounting Corp and its owners and staff are not responsible for any loss or decision that results from using this page. Links to government and other websites are for convenience and we do not control them.

This content is copyrighted by Prem Tax and Accounting Corp. Copying it in bulk, scraping it, or using it to train artificial intelligence systems requires our written permission.

Questions about how the new tax law or your year-end moves apply to you? Keshav Agrawal is a U.S. CPA and a Chartered Accountant (CA) from India. We prepare U.S. and Illinois returns, plan with you, and work alongside your financial adviser, insurance agent or attorney. We sell no investment or insurance products. Book a 10-minute call or send us a message.

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