Bill > HR9465

This bill, the Seniors in the Workforce Tax Relief Act, establishes an above-the-line tax deduction for individuals who have attained the age of 65 before the close of the taxable year. The deduction amount is $25,000, reduced by the excess of the taxpayer's adjusted gross income over $100,000. For joint returns or surviving spouses, the deduction is higher, up to $50,000 if both individuals are over 65. The deduction is available regardless of whether the individual itemizes other deductions. This provision is set to expire for taxable years beginning after December 31, 2028.