Individuals · 4 minStandard deduction & federal brackets
The 2026 standard deduction is higher and the seven federal rates remain in place.
- $16,100 — single or married filing separately
- $32,200 — married filing jointly
- $24,150 — head of household
- Rates: 10%, 12%, 22%, 24%, 32%, 35%, 37%
IRS inflation adjustments
Health savings · 3 minHSA limits rise again
For eligible high-deductible health plan participants, 2026 contribution limits are $4,400 self-only and $8,750 family. People age 55+ who are not on Medicare may add $1,000.
- Employer contributions count toward the limit.
- 2026 contribution deadline: April 15, 2027.
IRS guidance hub
Retirement · 5 minNew room for retirement contributions
Reported 2026 limits: $7,500 for traditional and Roth IRAs combined; $24,500 for 401(k), 403(b), and most 457(b) employee deferrals.
- IRA age 50+ catch-up: $1,100
- Workplace plan age 50+ catch-up: $8,000
- Ages 60–63 workplace super catch-up: $11,250 total
Official IRS limits
Business & gig work · 6 minThree information-return changes to prepare for
The reported 1099-NEC/MISC threshold rises to $2,000 for most 2026 payments. The federal 1099-K rule is $20,000 and more than 200 goods-and-services transactions; states may set lower thresholds. For digital assets, broker cost-basis reporting begins for covered 2026 transactions.
- Income stays taxable even when no form is issued.
- Keep acquisition costs, dates, fees, and sales records for digital assets.
Employees · 4 minTips and overtime deductions continue
For 2025–2028, qualified tips may support an above-the-line deduction up to $25,000. Qualified FLSA overtime premium may support up to $12,500 ($25,000 joint). Both phase out above $150,000 MAGI ($300,000 joint).
- Overtime means only the premium portion.
- Social Security and Medicare taxes still apply.
- Reporting and occupation rules matter.
IRS Tax Tip 2026-06
Planning notes · 4 minThe enhanced senior deduction
A temporary senior deduction of $6,000 per qualifying person age 65+ ($12,000 joint when both spouses qualify) applies for 2025–2028 and phases out above $75,000 single / $150,000 joint MAGI.
- It is available whether the taxpayer itemizes or takes the standard deduction.
- Eligibility and filing-status details determine the result.
Official IRS overview
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