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

Beware of the restrictions.

Millions of taxpayers are using a new IRS form to claim deductions for tips, overtime, car loan interest, and seniors. What ...

A new tax deduction for many adults 65 and older has plenty of rules and requires new paperwork. What you need to know when ...

As much as seniors love a new tax break, a risk exists that retirees and others will miss out if they think the new enhanced deduction for seniors on 2025 federal income tax returns is somehow ...

"Taxpayers who are age 65 or older may be eligible for the enhanced deduction for seniors. The maximum amount of the deduction is $6,000 per person ($12,000 if married filing jointly and both spouses ...

Schedule 1-A is a new tax form for 2025 that many people must file to get extra tax benefits. It includes deductions for ...

The Internal Revenue Service has published a new Schedule 1-A and updated instructions for claiming the new tax breaks in the One Big Beautiful Bill Act for tips, overtime, car loans, and senior ...

Every year, retirees lose or miss their SSA-1099. Here's what the form is, why it matters for your tax returns, and the ...

GULFPORT, Fla. — Some senior citizens may get more money back on their tax returns this year. Seniors 65 and older can claim an additional $6,000 for a single person, and $12,000 for married couples, ...

Nearly every year, regardless of larger legislation like the One Big Beautiful Bill Act, the IRS increases income thresholds ...