In tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their income tax return.

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President Trump's 'One Big Beautiful Bill,' enacted on July 4th, introduces a $6,000 tax deduction for seniors aged 65 and older, potentially exempting 88% from Social Security taxes. While offering immediate relief to middle and upper-middle-class retirees,

President Donald Trump has promoted a new $6,000 senior tax deduction and pledged to protect Social Security, and Commissioner Frank Bisignano has outlined efforts to modernize the system. Analysts have warned about risks of insolvency and unequal benefit distribution,

Even after President Donald Trump’s megabill was passed, Social Security benefit taxes look the same as they did in the 1980s.

The exact wording of the law actually stipulates a $6,000 tax deduction for individuals aged 65 and older, likely raising the number of seniors who won't pay taxes on Social Security to 88 percent. Currently, 64 percent of seniors already don't pay taxes on Social Security benefits.

The new additional senior deduction and other changes in Trump's "big beautiful bill" may reduce taxation of Social Security benefits by approximately $30 billion per year, estimates the Committee ...