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

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.

Many people will be thrilled to see larger-than-usual federal income tax refunds — some may end up $500 to $1,000 bigger than ...

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.

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 ...

On the individual income-tax return, known as Form 1040 or 1040-SR for seniors specifically, taxpayers simply have to check that they are 65 or older. The Internal Revenue Service will then ...

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.

O'Connor discusses how looking back at 2025 to prepare for the 2026 tax season in New York. NEW YORK, NY, UNITED ...

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