Don’t Forget to Take the 'Senior Deduction' On Your Taxes This Year

Core Points - A new tax deduction for seniors aged 65 and older has been introduced, potentially lowering their tax bills for the 2025 tax year [2][7] - The deduction allows individual taxpayers to deduct $6,000 and married couples to deduct $12,000 from their taxable income, in addition to existing standard deductions [3][7] - Eligibility for the deduction requires single taxpayers to have an income below $175,000 and married couples below $250,000, with phase-out thresholds starting at $75,000 for singles and $150,000 for couples [7][8] Importance - The new deduction is significant for senior Americans, who often rely on fixed incomes from Social Security and retirement savings, as it can help alleviate financial burdens [4] Application Process - Taxpayers can utilize online tax software that automatically applies the deduction if eligible, or manually indicate their age on tax forms to claim it [5][9]