The IRS is providing seniors with information and resources regarding the 2026 tax filing season. For eligible taxpayers age 65 or older, the One Big Beautiful Bill Act created a temporary deduction of up to $6,000 ($12,000 for married couples filing jointly). The deduction begins to phase out when modified adjusted gross income (MAGI) exceeds $75,000 ($150,000 for joint filers). It’s completely phased out when MAGI reaches $175,000 ($250,000 for joint filers). The deduction can be claimed whether you take the standard deduction or itemize deductions. The IRS tip sheet also includes information on the Earned Income Tax Credit and Social Security benefits. For details: https://bit.ly/4aI9aui
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