Key Facts About the New Senior Tax Deduction

Tax season is underway, with many individuals receiving forms like W-2s and 1099s. For retirees, a new senior tax deduction introduced in President Trump’s tax legislation may enhance their tax outcomes for the years 2025 to 2028. Last year’s average tax refund was $3,167, and this year’s changes could benefit those filing taxes soon. Retirees should stay informed about this new deduction as they prepare their filings.

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