IRS tax updates for 2025 and 2026: New standard deductions, income tax brackets, and credits adjusted for inflation and new legislation.(Representing AI image) IRS Tax Shakeup 2025–2026: What the Inflation Adjustments Mean for Your Wallet - Dr.Sanjaykumar pawar Table of Contents Introduction: A Year of Tax Shifts Why the IRS Must Adjust: Inflation, Legislation & “Bracket Creep” Key Changes in 2025 Standard Deduction Boost Revised Tax Brackets Earned Income Tax Credit (EITC) Enhancements Other Affected Provisions (AMT, Gift/Estate, etc.) What’s New for 2026 (Filed in 2027) Standard Deduction & Brackets Expanded Credits & Other Indexed Items What Stays the Same How These Changes Affect Different Taxpayers Low-income / EITC claimants Middle-income earners High-income / bracket-bound taxpayers Seniors, retirees, and special groups Strategic Takeaways & Planning Tips Withholding & payroll adjustments Timing income and deductions Retirem...