The Economic Times

IRS announces $6,000 senior tax deduction for 2026 See if you qualify and boost refunds amid rising living costs

Older Americans may qualify for a new $6,000 IRS tax deduction in 2026. The benefit targets seniors facing rising healthcare, grocery, and housing costs. Eligible taxpayers aged 65 and older could save up to $1,320. Income limits apply. The deduction phases out at higher earnings. Refunds may increase significantly. Filing rules matter. Details could change your tax outcome.