Requirements to maximize the $6,000 tax credit for Social Security retirees

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..."

Reference: www.msn.com

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View the DRAFT of Publication 554 Tax Guide for Seniors For use in preparing 2025 Returns

Title: View the DRAFT of Publication 554 Tax Guide for Seniors For use in preparing 2025 Returns

Article Snip: "...This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information. Do not file draft forms. We incorporate all significant changes to forms posted with this coversheet. However, unexpected issues occasionally arise, or legislation is passed—in this case, we will post a new draft of the form to alert users that changes were made to the previously posted draft..."

Reference: www.irs.gov
Publication 554 Tax Guide for Seniors For use in preparing 2025 Returns, Seniors Tax Filing Information for 2025 Tax Returns,2025 Taxes,

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Amazon | J.K. Lasser's Your Income Tax 2026: For Preparing Your 2025 Tax Return

Title: J.K. Lasser's Your Income Tax 2026: For Preparing Your 2025 Tax Return

The most up-to-date entry in America’s #1 all-time best-selling personal tax guide

J.K. Lasser’sYour Income Tax 2026: For Preparing Your 2025 Tax Return delivers practical and hands-on guidance for everyday people preparing to file their taxes for the 2025 calendar year. You’ll find timely and up-to-date info about the latest changes to the US tax code, as well as worksheets and forms you can use to make filing your taxes easier. You’ll get the most current insight on how to maximize your credits and deductions, keeping more money in your pocket.

In the latest edition of this celebrated and best-selling series, you’ll find:

Special features that walk you through the most recent Tax Court decisions and IRS rulings that determine how your deductions and credits will work
Simple tips and tricks on how to properly file your taxes, as well as tax planning strategies that save you and your family money Full updates on the One Big Beautiful Bill Act and how it could impact your tax
A revised and expanded section on cryptocurrency.

Trusted by hundreds of thousands of Americans for over 80 years, J.K. Lasser’s Your Income Tax 2026 is the perfect resource for everyone looking for the latest and most up-to-date personal tax information to make filing their next tax return a breeze.

Reference: Amazon

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When Can I Expect My Annual 1099-R Tax Statement From OPM?

Title: When Can I Expect My Annual 1099-R Tax Statement From OPM?

Article Snip: "...If your 1099-R delivery preference is set to Postal mail, we will mail your 1099-R in the last week of January, using the address we have on file for you as of the second week of December. If you have not received your 1099-R by the first week of February, we may not have your current address. Sign in to Retirement Services Online or call us at 1-888-767-6738 to update your mailing address. Your 1099-R will be available online on Retirement Services Online by January 31. ..."

Reference: www.opm.gov
Tax Time,1099-R, 1099R,

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Claiming the Standard Deduction? Here Are Five Tax Breaks for Retirement in 2025

Title: Claiming the Standard Deduction? Here Are Five Tax Breaks for Retirement in 2025

Article Snip: "...If you’re retired and filing taxes, these tax credits and deductions could provide thousands in relief (if you qualify). ..."

Reference: www.kiplinger.com
Extra standard deduction for retirees who are over 65, Bonus deduction for retired older adults, Car loan interest deduction, Property tax credits on your state income return (if you have one),

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