US Seniors Eligible for Up to $31,625 in IRS Deductions

The US government is making some changes to how taxes work for older people.

If you're 65 or older, you can get up to $31,625 back when you file your taxes in 2029.

This is because of a new law called the OBBB Act.

The amount you get depends on how much money you make.

If you make up to $75,000 a year, you can get $8,000 back.

If you're married and you both make up to $150,000 together, you can get between $12,000 and $15,200 back.

If you make more than that, the amount you get back goes down a little bit.

These changes start in 2029, and you need to have a social security number to get this money back.

Not all states in the US have these changes yet.