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New federal law could save Mississippi retirees thousands in taxes — but the benefit is set to expire in 2028.
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For seniors across the country, perhaps the most noteworthy aspect of the new bill is the additional deduction for this ...
New deductions for seniors may spare millions from taxes, but experts warn they could hasten Social Security’s trust fund depletion.
Seniors can currently claim a standard deduction of $15,000 (or $30,000 for couples), plus an additional senior-specific deduction of $2,000 (or $3,600 for couples).
A new, temporary "senior bonus" deduction of up to $6,000 will apply to taxpayers ages 65 and older in 2025, 2026, 2027 and 2028. It ends after that without congressional action.
A new temporary tax deduction for seniors offers relief, but it’s not a direct cash payment. Knowing the rules is key to ...
Find out the truth behind the senior $6,000 Bonus in the Big Beautiful Bill, including who qualifies and how much it could ...