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 new $6,000 deduction goes into effect for the 2025 tax year and will continue through 2028 for those aged 65 and older.
The new, temporary senior deduction gives taxpayers 65 and older who fall within income limits the opportunity to deduct up ...
You can only claim the new senior tax deduction if you were 65 or older at the end of 2025. You must also provide your Social ...
You can only claim the new senior tax deduction if you were 65 or older at the end of 2025. You must also provide your Social ...
Get real-time coverage of Finance Minister Nirmala Sitharaman’s Union Budget Speech 2026. Latest updates on major announcements, tax proposals, sector-wise allocations, policy changes, economic ...
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