Senior citizens in Iowa are in line for a new tax break, according to Stacy Engle, a spokeswoman for the Internal Revenue Service.
Engle says Iowans who are 65 years old and older can claim an extra deduction this year — and each year through 2028.
“It is in addition to the normal senior standard deduction under the existing tax code,” Engle says. “Eligible individual is $6,000. For a married couple, that are both over 65, the deduction would be an additional $12,000.”
The change in tax law aims to ease the burden for some seniors, especially if they’re drawing Social Security and are still working, even parttime.
“A lot of folks don’t understand when they have other sources of income outside of Social Security, the more they make, their Social Security can become taxable,” Engle says. “So basically, what this does is, it reduces the amount of Social Security that is taxable on those tax returns.”
She says the new deduction was part of the so-called Big Beautiful Bill that passed Congress in July. Engle says there’s a new form included on the standard 10-40 form this season.
“One good thing is if folks electronic file, that software will automatically create that form for you and fill it out,” she says. “Electronic filing is the fastest, safest and most effective way to file your tax return.”
Engle says choosing to e-file with direct deposit can speed up refunds, and they’ll typically arrive in 21 days or less.
For more details, visit IRS.gov.
