Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Why aren't seniors given the added exemption as they were at one time?
Adam...2011 tax law gives everyone a $3600 exemption. They used to offer additional exemptions of the same amount for seniors over 65 years of age, and blind individuals. So if I was over 65 and filing individually my total exemption would be $7200.
Thanks tro........
Actually Pat, I used to be in the tax business. I'm retired now and have used turbo tax for several years. Its just easier. Your smart a** answer isn't appreciated.
In fact Judy, I shouldn't necessarily know that. I changed careers long before the '86 changes and no longer worked in the tax prep business. I stayed abreast of changes that affected me and my family personally only. Never say woulda, shoulda, coulda, until you have all the facts.
4 Answers
- JudyLv 79 years agoFavorite Answer
Because Congress changed the law. As a former tax person you should know that.
There is a larger std deduction now for people 65 and over than for under 65. I guess Congress felt that was a better way to do.
- Bostonian In MOLv 79 years ago
Seniors and the blind used to be able to claim an extra personal exemption. That changed quite some time ago -- the Tax Reform Act of 1986 if memory serves correctly. They now get an additional standard deduction amount if they are not itemizing.
- troLv 79 years ago
that changed oh so long ago
however, those who are 65 and older are allowed additional amount on their standard deduction which makes less of their income taxable