What is the Savers Credit?

The Savers Credit is a tax credit for eligible low- and moderate-income taxpayers who save for their retirement. If you’re eligible, you can claim the credit when you file your taxes.

Checkout this video:

The Savers Credit is a tax credit available to low- and moderate-income taxpayers who save for their retirement.

The Savers Credit is a tax credit available to low- and moderate-income taxpayers who save for their retirement. The credit is worth up to $1,000 for individuals and $2,000 for couples.

To be eligible for the credit, you must be 18 years old or older, not be a full-time student, and not be claimed as a dependent on another person’s tax return. In addition, you must have earned income from working (wages, salaries, tips, etc.) of at least $10,000 in the tax year.

If you’re married and file a joint tax return, you and your spouse must each have earned at least $10,000 to qualify for the credit. If you’re married and file a separate tax return, you can’t claim the credit.

Scroll to Top