The enhanced deduction for seniors applies on 2025 tax returns to adults born before Jan. 2, 1961.

Tax season is fast approaching and several tax policy changes impacting older Americans will be in effect when seniors go to file their returns. The enactment of Republicans' One Big Beautiful Bill ...

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Medicare Advantage over-the-counter (OTC) benefits are insurance-provided allowances that enable seniors to buy everyday health and wellness products. They work similarly to FSA accounts and the ...

A new, temporary 'senior bonus' will enable many taxpayers age 65 and older to deduct up to $6,000 in income from their federal returns. You must file a new Schedule 1-A. The new enhanced deduction ...