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Trump Announces Senior Tax Deduction

President Donald Trump has promoted a new $6,000 senior tax deduction and pledged to protect Social Security, and ...
The IRS has released new guidelines to help taxpayers understand the Big Beautiful Bill, a sweeping tax reform law now in ...
In tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their income tax return.
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.” ...
The Trump bill — which was enacted in early July — introduces an additional tax deduction for taxpayers who are 65 or older.
Roughly 600,000 retirees in Oklahoma are expected to benefit from a new federal deduction that exempts most Social Security ...