The new senior tax deduction could significantly lower taxes for retirees and Americans age 65 and older — but many seniors don’t know how it works or if they qualify. In this video, we explain: What the new senior tax deduction is Who qualifies for the deduction Income limits and age requirements How much seniors can save on federal taxes How this deduction works with Social Security income, pensions, and retirement withdrawals Common mistakes that could cost retirees thousands If you’re retire