OBBBA has introduced a ‘Seniors Deduction’ for retirees over 65, of up to $6,000 for individuals ($12,000 for couples), in 2026 tax filings.

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

The bonus reduction will add $670 to the after-tax income of seniors on average.

Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced ...

For some retirees, the change could eliminate federal income taxes entirely, although many were already exempt from Social ...

Here’s what’s new for the 2025 tax returns, even if nothing changed, there are several changes to various deductions for filing a return.

The 2026 tax season can be summed up in two words: Complexity and cash. Many can expect bigger refunds, but detailed rules ...