The "One Big Beautiful Bill" includes a Senior Bonus Benefit, specifically a $6,000 additional standard deduction for individuals 65 and older, available to those with a modified adjusted gross income (MAGI) below $75,000 (or $150,000 for joint filers). This deduction is intended to provide tax relief for seniors and is in addition to the existing standard deduction. Expires December 31, 2028.
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