India, Feb. 10 -- The One Big Beautiful Bill Act permits taxpayers aged 65 and above to claim an additional deduction of $6,000 without the necessity of itemizing their deductions. This deduction, which will be implemented in the 2025 tax year (returns submitted in 2026), is supplementary to the standard additional deduction available for seniors and the blind. Furthermore, it is applicable on an individual basis, allowing married couples who file a joint return to claim a total of up to $12,000. The 'extra' deduction for seniors is set to expire at the conclusion of the fiscal year 2028.

In order to be eligible for the new deduction for seniors, you must be 65 years old or older by December 31, 2025, and file as a single taxpayer, head ...