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.

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.

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 ...

Budget 2026 brings relief for India's seniors by simplifying tax support and boosting healthcare. Key initiatives include ...

Retirees will enjoy a generous new tax break in 2026, courtesy of the One Big Beautiful Bill Act. Eligible taxpayers who are ...

The new $6,000 deduction goes into effect for the 2025 tax year and will continue through 2028 for those aged 65 and older.

While many households will see higher refunds this year, they may be far smaller than promised and offset by higher tariffs ...

Mark Wynn, vice president of tax for Lamb Weston, said conformity is “the right choice for Idaho” but maintained concerns about several business provisions. He pointed to a restriction in the bill ...

We’re still a few months from the due date, but tax season is underway and some people are looking at higher-than-expected ...