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In tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their income tax return.
The IRS has released new guidelines to help taxpayers understand the Big Beautiful Bill, a sweeping tax reform law now in ...
The Sacramento Bee on MSN14h

Trump Announces Senior Tax Deduction

President Donald Trump has promoted a new $6,000 senior tax deduction and pledged to protect Social Security, and ...
Starting in 2025, the One Big Beautiful Bill Act (OBBBA) introduces historic tax cuts, making key provisions from the 2017 ...
The Trump bill — which was enacted in early July — introduces an additional tax deduction for taxpayers who are 65 or older.
Key Takeaways The One Big Beautiful Bill Act includes a $6,000 bonus deduction for those age 65 or older. The White House has announced the bill means “no tax on Social Security.” ...