Trump, seniors and tax on Social Security
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The IRS has released new guidelines to help taxpayers understand the Big Beautiful Bill, a sweeping tax reform law now in effect for the 2025 filing season. Aimed at middle-class workers, boomers and retirees,
Alabama’s senior citizens could see meaningful tax relief beginning in 2026, thanks to the One Big, Beautiful Bill. Passed under the Trump administration, this federal legislation introduces a so-call
Older Americans can now benefit from a "senior bonus" tax deduction, but it largely depends on their income. SACRAMENTO, Calif. — A new temporary tax deduction for older Americans, dubbed the “ senior bonus ,” is now in effect but financial experts say eligibility depends largely on your income.
Roughly 400,000 Utah retirees are expected to gain from a new federal tax deduction that eliminates Social Security income taxes for most recipients starting in 2026. The One Big Beautiful
Delaware’s senior citizens are among those set to benefit from the One Big Beautiful Bill, a federal tax overhaul passed under the Trump administration. The legislation introduces a senior deduction that exempts most Social Security benefits from federal taxation—a change that could bring meaningful financial relief to roughly 200,
Roughly 600,000 retirees in Oklahoma are expected to benefit from a new federal deduction that exempts most Social Security income from taxes starting in 2026.
Roughly 1.1 million Wisconsin retirees are set to benefit from a new federal deduction that phases out taxes on most Social Security income starting in 2026. The One Big Beautiful Bill
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Soy Aire on MSNFinancial Relief: The Impact of the One Big Beautiful Bill Act on Seniors
The One Big Beautiful Bill Act introduces a temporary $6,000 tax deduction for seniors, aiming to ease financial burdens. While it offers relief, it doesn't eliminate taxes on Social Security benefits,
The Trump bill — which was enacted in early July — introduces an additional tax deduction for taxpayers who are 65 or older. The deduction could be up to $6,000 for an individual tax filer and up to $12,000 for a married couple if both spouses qualify.