The 2026 standard deduction will rise to $16,100 for single filers and married filing separately, $32,200 for married filing jointly, and $24,150 for heads of household filers.
Other key adjustments for tax year 2026 include:
Flexible Spending Account (FSA) contribution limit is $3,400, and maximum carryover amount is $680.
Health Spending Account (HSA) contribution limit is $4,400 for self-only and $8,750 for family.
Alternative Minimum Tax (AMT) exemption amount is $90,100 ($140,200 for married filing jointly) and begins to phase out at $500,000 ($1,000,000 for married filing jointly).
Earned Income Tax Credit (EITC) maximum amount is $8,231.
Qualified Transportation Fringe amount is $340 per month.
Foreign earned income exclusion is $132,900.
Estate tax exclusion amount is $15,000,000.
The gift tax exclusion is $19,000 (no change).
The 401(k) contribution limit is $24,500 for employee contributions. Catch-up contribution limit for age 50 or over is $8,000.