The IRS released 2026 tax brackets, reflecting President Trump’s tax cuts. Singles making $12,400 or less are in the 10% bracket, while those over $640,600 face a 37% rate. Standard deduction rises to $16,100 for singles and $32,200 for couples. Tipped wages up to $25,000 are tax-free for 70 private sector jobs.

During the government shutdown, the IRS remains operational, with 40,000 employees exempt from furloughs. The agency shuttered some operations but continues collecting taxes. The GOP tax law boosts standard deduction, while tipped workers in 70 jobs are exempt from taxes on up to $25,000 of income.

Read more at Yahoo Finance: IRS releases 2026 income tax brackets with Trump law changes