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To amend the Internal Revenue Code of 1986 to increase the additional standard deduction for seniors.
2/28/2025, 9:06 AM
Summary of Bill HR 1130
The bill seeks to raise this additional standard deduction to $2,000 for individuals over the age of 65, providing seniors with more tax savings and simplifying the tax filing process for this demographic. This increase in the standard deduction for seniors is intended to help alleviate the financial burden that many older Americans face in their retirement years.
Overall, the Senior Tax Simplification Act aims to provide much-needed tax relief for seniors and make the tax system more equitable for this demographic. The bill has garnered bipartisan support in Congress and is seen as a positive step towards helping seniors navigate the complexities of the tax code.
Congressional Summary of HR 1130
Bonus Tax Relief for America’s Seniors Act
This bill increases to $5,000 (adjusted for inflation) the amount of the additional standard deduction allowed for individual taxpayers who are 65 years old or older.
Under the bill, the additional standard deduction amount of $5,000 applies to each individual taxpayer who is 65 years or older, regardless of filing status. Thus, married spouses who are both 65 years old or older and who file a joint income tax return may claim an additional standard deduction amount of $10,000 (adjusted for inflation).
As background, the basic standard deduction amount may be increased for taxpayers who attain the age of 65 before the end of the tax year (generally referred to as the additional standard deduction). Under current law, for 2025, the additional standard deduction amount is (1) $1,600 for individuals who are 65 years old or older, or (2) $2,000 if the individual is also unmarried and not a surviving spouse.
