Millions of seniors who receive Social Security benefits will get a ‘bonus’ tax deduction this year. The new $6,000 deduction goes into effect for the 2025 tax year and will continue through 2028 for those aged 65 and older. Across the country, more than 70 million Americans rely on Social Security benefits each month. While Social Security is deemed unearned income by the Internal Revenue Service, they can still be taxed under the federal income tax depending on the senior’s larger income