• Seniors receive a more generous standard deduction than non-seniors.tax forms image by Chad McDermott from Fotolia.com
  
  Tax law generally applies to every income earner equally. However, senior citizens aged 65 and older do enjoy a few credits and deductions other taxpayers do not. This includes higher thresholds, some generous tax credits and deductions. Internal Revenue Service (IRS) Publication 554, "Tax Guide for Seniors," describes these issues and other issues of specific interests to senior taxpayers.
  
  

Income Threshold

• Seniors have a higher income threshold than other taxpayers. As of 2010, single senior's income threshold for filing is $10,750 compared to $9,350 for a single taxpayer under 65 years of age. Individual retirement plans, annuities and pensions may also be tax exempt or partially exempt due to their specific arrangements.
  
  

Standard Deduction

• The standard deduction for seniors depends on a senior's filing status. Can they be claimed by another, blindness, real state taxes, local and state taxes are just some of the factors that determine filing status. Each year the standard deduction is indexed for inflation so it will be different from year-to-year. For seniors the standard deduction in 2009 was $5,700 for a single person and $11,400 for a joint return. The head of household standard deduction was $8,350.
  
  

Tax Credits for the Elderly

• There also a number of tax credits available to senior that can reduce their tax exposure. Medical expenses, transportation to and from medical care, meals and lodging for medical care are all deductible. At age 65 and older you receive a tax credit for the elderly and disabled. You can also receive deductions for premiums such as long-term medical care.