Alaska's seniors may soon see substantial federal tax relief due to the One Big, Beautiful Bill, which introduces a senior deduction exempting most Social Security income from taxation. This change is expected to benefit around 100,000 retirees in Alaska, alleviating financial burdens linked to high utility costs. Nationwide, the bill increases the percentage of Social Security recipients owing no federal tax from 64% to 88%, adding 14.2 million retirees to the exempt category. The legislation offers a $6,000 deduction for individuals and $12,000 for couples, considered the largest tax break in history for seniors.
The legislation introduces a senior deduction that removes most Social Security income from federal taxation, benefiting around 100,000 retirees in Alaska by alleviating financial strain.
According to the White House, the tax bill increases the share of Social Security recipients who owe no federal tax from 64% to 88%, adding 14.2 million retirees nationally.
The $6,000 senior-focused tax deduction for individuals and $12,000 for married couples layered on the standard deduction represents the largest tax break in history for America's seniors.
Census data indicates that 103,000 Alaskans are aged 65 or older, with almost all seniors set to benefit from the federal tax exemption on Social Security.
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