Tuesday, January 25, 2011 - 7:42 PM

Saver's Tax Credit

This US News article describes a tax credit that can be useful for lower-income savers:

The Retirement Savings Contribution Credit - or Savers Credit - is often overlooked, but it reduces the tax bill by up to $1,000 for millions of American taxpayers.

KenBDG5,153 posts since
Nov 29, 2009
Rep Points: 117,134

1. Friday, May 20, 2011 - 2:36 AM

A non-refundable tax credit available to lower income individuals and households that contribute to qualified retirement savings plans. A taxpayer must be at least 18 years old to be eligible for the credit. Individuals that are full-time students, were full-time students for at least five months of the year, or filed as dependents are not eligible.

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karinabartram6 posts since
May 20, 2011
Rep Points: 6