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2. Retirees 65 and Older Eligible for Extra Standard Deduction ...

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   For tax year 2023, the additional standard deduction amounts for taxpayers who are 65 and older OR blind are: $1,850 for single or head of household. $1,500 for married taxpayers (per qualifying ...

3. Here are the biggest retirement changes coming in 2023 - AOL

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   In total, workers who are 50 and older can contribute up to $30,000 starting in 2023. The annual contribution limit for IRAs next year also increased to $6,500 from $6,000 — an increase of 8.3% ...

4. Tax bill on 2023 Social Security benefits could catch ... - AOL

   www.aol.com/finance/tax-bill-2023-social...

   The 2022 tax year could be a precursor to what retirees may experience this year when their tax bill comes due. A survey by the Senior Citizens League asked 4,375 older taxpayers if they had to ...

5. Social Security (United States) - Wikipedia

   en.wikipedia.org/wiki/Social_Security_(United...

   Self-employed persons would pay 16.00% on earnings (up from today's 12.4%) under this proposal. Raise the retirement age(s). Raising the normal retirement age by two months per year until it reaches 69 in 2034 would reduce payouts and improve solvency. Means-test benefits. A phase out of Social Security benefits for those who already have ...

6. Retirees Often Overlook These 11 Tax Deductions - AOL

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   For tax year 2023, the addition to the standard deduction for individuals 65 and older is $1,850 for single filers and $1,500 each for married taxpayers. There is an additional increase to the ...

7. Taxpayer Relief Act of 1997 - Wikipedia

   en.wikipedia.org/wiki/Taxpayer_Relief_Act_of_1997

   Taxation in the United States. The Taxpayer Relief Act of 1997 ( Pub. L. 105–34 (text) (PDF), H.R. 2014, 111 Stat. 787, enacted August 5, 1997) was enacted by the 105th United States Congress and signed into law by President Bill Clinton. The legislation reduced several federal taxes in the United States and notably created the Roth IRA.

8. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   For dependents, the standard deduction is equal to earned income (that is, compensation for services, such as wages, salaries, or tips) plus a certain amount ($400 in 2023). A dependent's standard deduction cannot be more than the basic standard deduction for non-dependents, or less than a certain minimum ($1,250 in 2023).

9. Taxes 2023: What's the standard deduction for people over 65?

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   The IRS considers an individual to be 65 on the day before their 65th birthday. The standard deduction for those over age 65 in 2023 (filing tax year 2022) is $14,700 for singles, $27,300 for ...