Seniors age 65 and older should pay close attention to a new tax deducition just for you. Effective for this tax year indiviuals age 65 or older by year-end may claim $6,000 on a single tax return and $12,000 filing a joint tax return.
The deduciton is phased out if starting at income of $75,000 for single and $150,000 for married filing jointly. The taxpayers must have a valid Social Security Number. This benefit is available for tax years 2025 through 2028.