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The IRS has raised federal income tax bracket thresholds for 2027, allowing taxpayers to earn more before moving into a higher bracket.

The standard deduction will increase to $16,600 for single filers and $33,200 for married couples filing jointly.

The seven federal income tax rates remain unchanged, ranging from 10% to 37%, and the new amounts generally apply to returns filed in 2028.

The IRS has announced new federal income tax brackets for 2027, increasing the income thresholds at which higher tax rates take effect and raising the standard deduction.

The changes are part of annual inflation adjustments affecting nearly 70 tax provisions. They generally apply to income earned during 2027, reported on tax returns filed in 2028.

Author: Mark Huffman
Source: Consumer Affairs

Little Giant is recalling about 3.66 million ladders that can retract unexpectedly if their Rapid Locks are not fully engaged.

The company received 25 reports of retraction, including 19 involving injuries.

Owners should stop using affected ladders and contact Little Giant for a repair kit.

Little Giant has recalled approximately 3,662,000 ladders, according to a November 5 notice from the Consumer Product Safety Commission (CPSC). Reported injuries include traumatic brain injury and fractures.

Affected models are Adjustable Fortress 2.0, Conquest 2.0, Dark Horse 2.0, Epic, King Kombo XT, Leveler, MegaLite, MegaLite+, Multi, Quantum, and Vector. Only ladders lacking an orange rectangular QC sticker above a Rapid Lock are recalled.

Author: Mark Huffman
Source: Consumer Affairs

The FDA has assigned its highest risk classification, Class I, to recalls involving two Starfish Seafood smoked fish products over Listeria concerns.

The affected products are cold smoked Norwegian salmon and a seafood trio containing salmon, halibut, and trout.

Consumers should check their refrigerators and freezers and return recalled packages for a full refund.

The Food and Drug Administration (FDA) has classified two Starfish Seafood recalls as Class I, its most serious designation, because of concerns about contamination with Listeria monocytogenes.

The classifications, assigned November 3, cover Cold Smoked Norwegian Salmon and Cold Smoked Trio Salmon Halibut Trout distributed by Brooklyn, New York-based Krasnyi Oktyabr Inc. The voluntary recalls began October 6 and remain ongoing, according to recall records.

Author: Mark Huffman
Source: Consumer Affairs

Employer coverage of GLP-1 drugs for weight loss fell from 57% to 53%, the first decline in three years.

Among employers maintaining coverage, 30% are considering eliminating it, according to WTW.

Employees could also face higher premiums and out-of-pocket costs as companies confront rising health expenses.

GLP-1 drugs, such as Ozempic and Wegovy, have proven to be effective weight-loss tools, leading to their increased popularity. But consumers who depend on their employers to make the drugs more affordable may be in for disappointment. Employers are pulling back from covering GLP-1 drugs for weight loss, according to a new WTW survey that points to growing pressure on workplace health benefits.

Among companies that have dropped coverage or are considering doing so, 91% cited cost. The findings specifically concern weight-loss coverage, rather than a broad withdrawal of coverage for diabetes treatment.

Author: Mark Huffman
Source: Consumer Affairs