The deduction reduces at a rate of 6% of the amount exceeding the threshold. For instance, a single filer with a MAGI of ...

Adjustments to the extra standard deduction can impact the tax bills of millions of older adults. Here are some new amounts to know for 2026.

A new $6,000 senior tax deduction has been hailed as long-overdue relief for older Americans feeling squeezed by rising costs. After years of grappling with growing property tax bills, soaring ...

As we approach 2025, many seniors are considering Roth conversions to optimize their retirement savings. With the introduction of President Trump’s new $6,000 senior deduction, there are opportunities ...

Now that the Senate and House have both passed their versions of the tax and spending bill, it is up to President Donald Trump to sign it into law, including a new temporary deduction — called a ...

Seniors on a fixed income can find relief from tax debt through various IRS programs. Find out more about these opportunities ...

Q. My neighbor recently told me about something called the senior freeze. He said his real estate tax bill is much lower than his neighbor’s bills because of this. What is the senior freeze and how do ...

But the reality is more complicated. Not all seniors will qualify for the deduction, and those most at risk of losing their homes—lower-income seniors and those with little taxable income—might see no ...