The 'One Big Beautiful Bill Act' (OBBBA), signed into law on July 4, 2025, introduces a new $6,000 tax deduction for seniors.

This bonus will come in addition to the existing extra standard deduction for seniors, which the IRS has increased as part of ...

For tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their income tax return.

Benefits recipients could save $6,000 in federal taxes on their monthly payments. Here’s who is eligible to claim the ...

With new tax breaks in place, experts say there’s still time to increase deductions by planning contributions and tracking eligible expenses.

The tax-and-spending bill includes several provisions that could have significant effects on your tax refunds come April – ...

Quick Read The OBBBA creates a $6,000 annual deduction for taxpayers 65 and over starting in 2025. The deduction phases out for income above $75,000 (single) or $150,000 (joint). The tax break expires ...

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 ...

The One Big Beautiful Bill brought several changes to personal income taxes. Learn what you need to know for the upcoming tax season.

BOISE, Idaho — Editor's note: The following has been updated to reflect information on deductions, not tax returns. Idaho residents 65 and older could see an average of $6,000 more in their tax ...