A new tax break gives seniors up to $6,000 back. Here’s who qualifies.
Yahoo Finance·2026-03-05 14:36
Older adults who face a financial crunch may be happy to know that 2025 federal income tax returns offer a way to get more tax refund cash for those 65 and older. You'll need to qualify — and make sure to file a new Schedule 1-A to claim a special tax deduction. The new, temporary "senior bonus" will enable many taxpayers 65 years old and older to deduct up to $6,000 in income from their federal returns. Plenty of rules and restrictions apply, though, so not everyone in that age group will qualify. If ...