Tag Archives: Savers Credit

Who can take the Retirement Savings Contributions Credit? (Savers Credit)

If you contributed to one or more retirement savings accounts during the tax year, you may be eligible to claim the saver’s credit. Saving for retirement can sometimes be challenging, but the IRS makes it a little easier for certain taxpayers with low or moderate income. If you meet specific qualifications and contribute money to a qualified retirement savings account, you may be able to reduce the amount of tax you owe by claiming the Retirement Savings Contribution Credit (also known as the saver’s credit).  Contributions to many types of retirement savings accounts can be counted toward the saver’s credit,

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