Putting The Spotlight On An Often-Overlooked Tax Credit

19 Mar    Investing News

The Saver’s Credit, also referred to by the IRS as the Retirement Savings Contributions Credit, is available to eligible taxpayers who are saving for retirement. It is a non-refundable tax credit that may be applied up to the first $2,000 of voluntary

contributions an eligible worker makes to a 401(k), 403(b) or similar employer-sponsored retirement plan, a traditional or Roth IRA, or an ABLE account. ABLE accounts are tax-advantaged savings accounts for people who developed significant disabilities before their 26th birthday.