The new senior tax deduction is quietly reshaping retirement math. Instead of tinkering with how Social Security itself is taxed, Congress created a sizable extra write off for older filers that can ...

The standard deduction has been super-sized for seniors. Thanks to provisions in the One Big Beautiful Bill Act, taxpayers 65 and older can claim an additional $6,000 without itemizing their ...

A United States Treasury government check rests on top of a Social Security card. The Social Security Administration (SSA) issued a press release and an email to tens of millions of Americans claiming ...

The BBB's new senior deduction is only available to adults 65 and older. High-income seniors won't be eligible to claim it. Right now, the deduction applies only to the 2025 to 2028 tax years. The ...

It’s nearly the end of the year, the traditional time for giving but before opening your wallet, you should know how tax rules are changing so you can maximize your gifts. Itemizers should hit fast ...

The IRS offers special tax breaks for seniors that can save you thousands as you get older. Here's what you need to know for tax filing year 2025 to 2026.

Forbes contributors publish independent expert analyses and insights. Joseph J. Thorndike writes about tax history. The state and local tax deduction has been a part of the federal income tax from the ...

Christine Benz: Hi, I’m Christine Benz for Morningstar. People who are 65 and older may be able to take advantage of a new senior deduction starting in 2025. Joining me to discuss what you need to ...