2027 tax brackets, limits and changes: what is set so far

These figures for calendar year 2027 have been published by the Social Security Administration and the IRS.

The 12.4% Social Security part of self-employment tax applies to net earnings up to the wage base, which is $192,300 for 2027. Because self-employment tax is figured on 92.35% of net profit, that limit is reached at about $208,230 of net profit. Above it, only the 2.9% Medicare part continues; Medicare has no wage base.

For an employee, 6.2% is withheld up to the same $192,300, and the employer pays another 6.2%. That matters for S corporation owners, whose salary is subject to both halves: a higher salary costs more payroll tax until it reaches the wage base.

High earners also owe the 0.9% Additional Medicare Tax on wages and self-employment income above $200,000, or $250,000 on a joint return. Those thresholds are set by law and are not adjusted for inflation.

For 2027 you can put up to $4,500 into a health savings account with self-only coverage, or $9,000 with family coverage. People 55 and older can add $1,000, an amount set by law that does not change with inflation. Contributions from an employer count toward the same limit.

To contribute you need a high-deductible health plan. For 2027 that means a deductible of at least $1,750 for self-only coverage or $3,500 for family coverage, with out-of-pocket costs (not counting premiums) of no more than $8,700 or $17,400.

Contributions for 2027 can be made until the 2027 return is due in April 2028, and they lower federal taxable income even if you do not itemize.

The IRS has not published the 2027 tax brackets, standard deduction, annual gift exclusion or retirement plan limits yet. It announces the brackets and standard deduction in a revenue procedure each fall, and it published the 2026 figures on October 9, 2025. Retirement plan limits usually follow in November, and the business mileage rate in December.

Until then, these are the 2026 brackets, which apply to the return you file in 2027. The rates themselves are set by the July 2025 tax law and stay the same for 2027; only the income thresholds are adjusted for inflation. We will add the 2027 thresholds here the day the IRS publishes them.

These 2026 amounts apply to the return filed in 2027. Their 2027 versions have not been published yet.