Overview

• The law extends 2017 TCJA income tax brackets through 2025, preserving current marginal rates for retirees.
• The individual estate tax exemption rises to $15 million per filer, averting the scheduled reduction in 2026.
• The standard deduction stays doubled permanently while new above-the-line deductions for tips and overtime await Treasury and IRS rules.
• A temporary senior deduction runs through 2028 after reconciliation limits blocked its permanency, prompting agency corrections.
• Advisers recommend retirees consider Roth IRA conversions now to lock in lower rates before key benefits begin to expire.