The enhanced deduction for seniors applies on 2025 tax returns to adults born before Jan. 2, 1961.

Your tax return could look pretty different this year.

Millions of retirees are about to see a rare kind of tax change: one that actually shrinks the IRS bill on their Social Security benefits. A new federal deduction gives qualifying older taxpayers up ...

As much as seniors love a new tax break, a risk exists that retirees and others will miss out if they think the new enhanced deduction for seniors on 2025 federal income tax returns is somehow ...

A new $6,000 tax deduction for Americans 65 and older could boost refunds for millions of older taxpayers, putting an average of about $670 more in their pockets this year, according to advocacy group ...

Forbes contributors publish independent expert analyses and insights. Admitted NY Bar and US Tax Court, covers US international tax law. The One Big Beautiful Bill Act introduces a significant ...

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 ...

American taxpayers aged 65 and older will receive a new $6,000 bonus tax deduction next year as part of President Donald Trump’s One Big Beautiful Bill Act. The temporary deduction comes alongside ...