If you’re 65 or older, the IRS just handed you a major win. The new Senior Bonus Deduction (part of the One Big Beautiful Bill Act) lets eligible seniors deduct an extra $6,000 from their taxable income. For married couples filing jointly, that doubles to $12,000, potentially reducing your tax bill or boosting your refund. This deduction stacks on top of the standard deduction and the existing age 65+ add-on, making it one of the most generous tax breaks in recent memory. For many retirees living on fixed incomes, this could mean real relief at a time when every dollar counts. Here is what you need to know about who qualifies and how to make the most of the new deduction.
