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How the New $6,000 Tax Deduction for Seniors Really Works
Analysis July 07, 2025 at 02:47 PM
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What You Need To Know
- Experts say the federal government is sending mixed messages about the “elimination” of taxes on Social Security benefits.
- Taxpayers 65 and older with income under $75,000 (or $150,000 for a couple) can take the new deduction, which expires after 2028.
- Were taxes on benefits to be eliminated by future legislation, trust fund insolvency projections would worsen.
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