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.

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,

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

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,

The IRS has released new guidelines to help taxpayers understand the Big Beautiful Bill, a sweeping tax reform law now in effect for the 2025 filing season. Aimed at middle-class workers, boomers and retirees,

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