2026 Tax Calculator: How the One Big Beautiful Bill Act’s Tax Changes Will Affect You
How will recent federal tax changes affect you?
4 min readProviding journalists, taxpayers, and policymakers with the latest data on taxes and spending is a cornerstone of the Tax Foundation’s educational mission.
As a nonpartisan, educational organization, the Tax Foundation has earned a reputation for independence and credibility. Our federal tax policy team regularly provides accessible, data-driven insights from sources such as the Internal Revenue Service (IRS), the Organisation for Economic Co-Operation and Development (OECD), Congressional Budget Office (CBO), the Joint Committee on Taxation (JCT), and others. For more insights on the latest federal tax policies, explore the Tax Foundation’s general equilibrium Taxes & Growth (TAG) Model
How will recent federal tax changes affect you?
4 min read
We estimate the OBBBA will reduce federal taxes on average for individual taxpayers in every state. Across all individual tax filers throughout the US, the average tax cut per taxpayer will be over $3,700 in 2026.
4 min read
Explore the IRS inflation-adjusted 2026 tax brackets, for which taxpayers will file tax returns in early 2027.
5 min read
New IRS data shows the US federal income tax system continues to be progressive as high-income taxpayers pay the highest average income tax rates. Average tax rates for all income groups remain lower after the Tax Cuts and Jobs Act (TCJA).
6 min read
How do current federal individual income tax rates and brackets compare historically?
1 min read
Different taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.
4 min read
How have US federal capital gains tax rates and collections changed over time?
1 min read
How do current federal corporate tax rates and brackets compare historically?
1 min read
Explore the IRS inflation-adjusted 2025 tax brackets, for which taxpayers will file tax returns in early 2026.
4 min read
Any move to repeal the cap or enhance the deduction would disproportionately benefit higher earners, making the tax code more regressive.
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In tax year 2020, taxpayers claimed more than 159 million tax credits on their individual income tax returns worth a total of more than $277 billion. That was an increase of $35.3 billion from tax year 2019, largely due to an influx of pandemic relief administered through the tax code in 2020.
6 min read
Reviewing reported income helps to understand the composition of the federal government’s revenue base and how Americans earn their taxable income. The individual income tax, the federal government’s largest source of revenue, is largely a tax on labor.
10 min read
Tobacco is the most highly taxed consumer product in the United States. The tools on this page allow you to explore state tax rates and the effects tax policy and tobacco regulations can have on state revenues, smuggling, and effective tax rates for different income groups.
2 min read
Although the U.S. has a progressive tax system and a relatively low tax burden compared to the OECD average, average-wage workers still pay more than 30 percent of their wages in taxes.
4 min read
Different taxes have different economic effects, so policymakers should always consider how tax revenue is raised and not just how much is raised.
4 min read