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0 0.000540407762220512 0.00162122328666168 0.00126455416359612 0.00097273397199695 -0.00358634242200942 -0.00388111029231157 -0.00169491525423728
Stock impact report

How seniors can boost tax refunds with new deduction on 2025 returns [USA TODAY]

WOLTERS KLUWER S/ADR (WTKWY) 
NASDAQ:AMEX Investor Relations: wolterskluwer.com/investors
Company Research Source: USA TODAY
A new, temporary 'senior bonus' will enable many taxpayers age 65 and older to deduct up to $6,000 in income from their federal returns. You must file a new Schedule 1-A. The new enhanced deduction for seniors will cover taxpayers who itemize and those who claim the standard deduction, if they qualify. As much as a risk exists that retirees and others will miss out if they think the new enhanced deduction for seniors on 2025 federal income tax returns is somehow automatic. It is not. Another potential problem: Treating your Social Security benefits as if they're not potentially taxable on 2025 federal income tax returns. They are. Many seniors will see substantially bigger refunds and smaller tax bills when they file their 2025 federal income tax returns — if they qualify and pay attention to detailed rules. A new, temporary senior bonus will enable many taxpayers age 65 and older who fall within income limits to deduct up to $6,000 in income from their federal returns. Show less Read more
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