2025 tax, in general
Mar 2nd 2026 | 3:47 am
#1
Thread Starter
Heading for Poppyland
Joined: Jul 2007
Posts: 17,529
From: North Norfolk and northern New York State
2025 tax, in general
I guess I didn’t know about the new additional tax credit for seniors this year, until I seriously got into doing our taxes a couple of days ago. It’s $6,000 per person, $12,000 if you’re married filing jointly. It means we get a good sized refund, for the simple reason (I assume) that the tax withholding from pensions and social security didn’t take account of the new tax credit. Presumably means the IRS will be refunding billions more over the next couple of months, compared to a typical year.
Mar 2nd 2026 | 5:48 am
#2
BE Forum Addict
Joined: Aug 2013
Posts: 2,218
From: Athens GA
Re: 2025 tax, in general
I guess I didn’t know about the new additional tax credit for seniors this year, until I seriously got into doing our taxes a couple of days ago. It’s $6,000 per person, $12,000 if you’re married filing jointly. It means we get a good sized refund, for the simple reason (I assume) that the tax withholding from pensions and social security didn’t take account of the new tax credit. Presumably means the IRS will be refunding billions more over the next couple of months, compared to a typical year.
https://www.irs.gov/newsroom/one-big...ns-and-seniors
Mar 2nd 2026 | 6:13 am
#3
Thread Starter
Heading for Poppyland
Joined: Jul 2007
Posts: 17,529
From: North Norfolk and northern New York State
Re: 2025 tax, in general
Not exactly. The deduction gradually phases out when adjusted gross income reaches $75,000 for single filers and $150,000 for joint filers.
https://www.irs.gov/newsroom/one-big...ns-and-seniors
https://www.irs.gov/newsroom/one-big...ns-and-seniors
