The deduction reduces at a rate of 6% of the amount exceeding the threshold. For instance, a single filer with a MAGI of ...

The IRS has unveiled its updated 2026 tax brackets and standard deductions, featuring an additional standard deduction for ...

Standard tax deductions are increasing across the board, but the news is even better for those 65 years and older.

A new $6,000 senior tax deduction in Trump's new tax bill, the One Big Beautiful Bill, starts in tax year 2025, offering ...

The House of Representatives and the Senate combined this month to pass the massive tax package known as the “One Big Beautiful Bill,” which includes a new tax deduction for seniors. The bill provides ...

The IRS on Thursday announced adjustments to the federal income tax brackets and standard deductions for 2026.

NBC News reports that the new package extends tax cuts that Trump introduced during his first term in 2017. The new package includes cuts to Medicaid, SNAP and clean energy funding, a temporary slash ...

BALDWIN COUNTY, Ala. (WKRG) — We’re months away from tax season, but Gulf Coast seniors are working to help more people file this year. Members of the Area Agency on Aging are holding volunteer ...

Adjustments to the extra standard deduction can impact the tax bills of millions of older adults. Here are some new amounts ...