New tax deduction for seniors age 65 and older for 2025 through 2028 If you or your spouse will be 65 or older by the end of the tax year, there may be a new temporary federal deduction worth up to 6,000 per eligible taxpayer. What the deduction is A temporary federal tax deduction available annually for eligible taxpayers age 65 and older Available for tax years 2025 through 2028 Designed to lower taxable income, which can reduce the amount of tax you owe depending on your bracket Who may quali

Beginners Guide to Filing a Tax Return