The Internal Revenue Service (IRS) on Thursday announced annual inflation adjustments for dozens of tax provisions, along with changes made under the One Big Beautiful Bill Act (OBBBA). The IRS' announced changes primarily apply to tax year 2026. The standard deduction, claimed by the majority of taxpayers who don't itemize their returns, will rise to $16,100 for single taxpayers and $32,200 for married couples filing jointly in tax year 2026. OBBBA also raised the standard deduction for the 2025 tax yea ...