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New Senior Tax Deduction Could Lower 2025 Tax Burden for Eligible Filers

New Senior Tax Deduction Could Lower 2025 Tax Burden for Eligible Filers

Author:

Global Cryptocurrency

Published:

2026-01-08 17:16:01

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BTCCSquare news:

A provision in the 'One Big Beautiful Bill' introduces a retroactive tax break for Americans aged 65+, permitting $6,000-$12,000 deductions from 2025 taxable income. Eligibility hinges on income thresholds: $175,000 for singles and $250,000 for married couples.

The deduction Stacks with existing standard deductions, offering seniors—often reliant on fixed incomes—additional relief. Treasury estimates suggest millions could benefit during April 2026 filings.

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