Overview

• The One Big Beautiful Bill Act is fully in effect, allowing filers 65 and older to claim up to an extra $6,000 (single) or $12,000 (married) deduction on their 2025 returns.
• The White House projects that nearly nine in ten Social Security beneficiaries will owe zero federal tax on their benefits under the new senior deduction.
• The Treasury Department has launched a study into imposing required minimum distributions on Roth IRAs and large 401(k) balances as part of retirement rule reviews.
• States are gearing up to enforce new Medicaid long-term care asset-verification rules ahead of the law’s 2026 implementation deadline.
• Key provisions—including the senior deduction, tip-income exclusion and several middle-class credits—are set to expire after December 31, 2028, prompting planning considerations.