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The 2025 Tax Bill: Additional $4,000 Deduction for Seniors, Simplified On top of those increases to the standard deduction, H R 1 would add an additional $4,000 deduction (per individual) for taxpayers over the age of 65 The $4,000 deduction would phase out at a 4% rate for single taxpayers earning more than $75,000 and married taxpayers earning more than $150,000
Who Benefits: The One, Big, Beautiful Bill Gives Seniors New Tax Relief Republicans are keeping President Trump’s promise to help seniors afford the cost of living through an expanded senior deduction in The One, Big, Beautiful Bill This bill helps low- and middle-income seniors like my aunt who worked as a Walmart greeter to supplement her Social Security check
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$4,000 senior bonus tax deduction for 2025: Who would qualify A new, $4,000 "bonus" deduction would be available for those age 65 and older who fall within set income limits, under the House GOP mega-bill that passed May 22 by a single vote margin
The One On President No Tax - The White House The new $6,000 senior deduction is estimated to benefit 33 9 million seniors, including seniors not claiming Social Security The deduction yields an average increase in after-tax income of $670
Big, beautiful bill gives some seniors hefty tax break The "big, beautiful bill" features a new tax break for older Americans who pay taxes on Social Security income But there's a significant catch Why it matters: The break leaves out the poorest seniors — who already don't pay Social Security taxes —and the very rich ones, too
$6,000 Bonus Tax Deduction Approved for Those Age 65 and Older Republicans in Congress have approved a $6,000 “bonus deduction” for those over age 65 in President Trump’s signature tax and spending bill, dubbed the One Big Beautiful Bill Act (OBBBA)