#senior-tax-deduction

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US politics
from24/7 Wall St.
1 day ago

Trump Administrations New Tax Rule Puts Social Security at Risk

A new $6,000 senior standard deduction boost in 2026 increases short-term senior tax savings but accelerates Social Security trust fund depletion by roughly six months.
fromFast Company
1 month ago

Social Security checks could get a big tax break in 2026 from a new 'senior deduction.' What you need to know

Many Americans are likely to see massive changes to their taxes in 2026, especially seniors. That's largely due to President Donald Trump's so-called big, beautiful bill, a massive 940-page bill signed into law over the summer that includes an array of new tax write-offs but also fails to renew some previous deductions from the Biden administration. One change is a $6,000 deduction for seniors.
US politics
US politics
fromSFGATE
5 months ago

100,000 Retirees in Vermont Qualify For The 'Senior Deduction' Under Big, Beautiful Bill

Most Social Security recipients will no longer owe federal income tax due to a new senior deduction, benefitting about 100,000 Vermont seniors.
US politics
fromSFGATE
6 months ago

How the 'Senior Deduction' in the Big, Beautiful Bill Could Help Retirees Keep Their Homes

A new $6,000 senior tax deduction offers potential relief for seniors facing rising costs, but many may not qualify.
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