Title: Requirements to maximize the $6,000 tax credit for Social Security retirees
Article Snip: "...The new federal deduction for older taxpayers represents one of the most targeted tax relief measures for retirees in recent years. Unlike broad stimulus checks or across-the-board rate cuts, this benefit is narrowly designed to reduce taxable income for people aged 65 and older between 2025 and 2028. Its timing is not accidental. It arrives in an environment defined by persistent inflation, higher living costs for seniors, and growing pressure on fixed retirement incomes.
The deduction functions as a tax shield rather than a refundable credit. That distinction matters. By lowering adjusted taxable income, it reduces federal income tax liability dollar for dollar at the retiree’s marginal rate. Economically, this encourages consumption..."
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