As it does each year, the IRS has announced inflation adjustments to several tax credit and deduction amounts for 2027. This includes new 2027 income tax bracket thresholds, higher standard deduction amounts , and an increase in the additional standard deduction available to taxpayers age 65 and older.

As Kiplinger has noted, this extra standard deduction — which can be claimed in addition to the regular standard deduction — can help lower taxable income for many eligible retirees and older adults.

As Kiplinger has noted, this extra standard deduction — which can be claimed in addition to the regular standard deduction — can help lower taxable income for many eligible retirees and older adults.

From just $107.88 $24.99 for Kiplinger Personal Finance

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