The standard deduction for seniors over 65 is a tax benefit that can significantly reduce their taxable income. TRAVERSE CITY, MI, UNITED STATES, October 7, 2024 ...

The One Big Beautiful Bill Act has supersized the standard deduction for seniors. Starting with 2025 federal returns (filed in 2026), taxpayers 65 and older can claim up to $6,000 in addition to the ...

New House bill changes standard deduction for seniors over 65. On the campaign trail, President Donald Trump pledged to eliminate federal income taxes on Social Security benefits for seniors. However, ...

Taxpayers must turn 65 before the end of 2025 to qualify for a new proposed deduction on next year's tax return. It would not matter if you're receiving Social Security benefits or delaying to claim.

The latest version of the GOP’s “big, beautiful bill,” which passed both houses of Congress this week and is headed to President Trump for his signature on Friday, includes a $6,000 tax deduction for ...

Taxpayers must turn 65 before the end of 2025 to qualify for a new proposed deduction on next year's tax return. It would not matter if you're receiving Social Security benefits or delaying to claim.

Kristina Byas is contributor at Investopedia. As a personal finance expert, she has lent her insights and knowledge to numerous financial publications. Her articles have helped readers navigate the ...

President Trump’s sweeping domestic policy bill that passed the House on Thursday provides a $6,000 boost to senior citizens’ standard deduction from 2025 through 2028. The new temporary tax break — ...

GREENSBORO, N.C. — Update: The U.S. House passed President Trump's "One Big Beautiful Bill." A new tax proposal from President Donald Trump could give seniors a break, but critics say it comes at a ...

A new, $4,000 'bonus' deduction would be available for those age 65 and older who fall within set income limits, under the House GOP mega-bill that passed in May. AARP's Nancy LeaMond says the group ...