Supposedly the tax relief for older adults in the form of a $6,000 “bonus” deduction that could
offset federal taxes on Social Security benefits for some.
Please explain the detail and just where the bonus $$ is configured on the
1040 standard deduction.
What is the expected net impact on the refund
Married filing jointly over 65
e.g. all factors the same $83,710 agi line #11
less taxes of 32,300 line #14
taxable income of $ 51,410 line #15
if in 2024 refund was 9,430
does that the increase refund to 21,000?
These tax laws are effective when this year 2025?
