FederalTax Credits
Saver's Credit (Retirement Savings Contributions Credit)
Tax credit for low- and moderate-income workers who contribute to a retirement account.
About This Program
The Saver's Credit provides a nonrefundable federal tax credit of 10-50% of retirement contributions made to a 401(k), IRA, or other qualifying plan for low- and moderate-income workers. The credit is worth up to $1,000 ($2,000 married filing jointly).
Eligibility Requirements
| Income | Adjusted gross income below $38,250 (single) / $76,500 (married, 2024) |
| Age | 18 or older |
| Other | Must contribute to a 401(k), IRA, SIMPLE, or similar retirement plan |
| Other | Cannot be a full-time student or dependent |
Eligibility requirements may have changed. Verify at the official source before applying.
Benefit Amount
Up to $1,000 (single) or $2,000 (married filing jointly)
Category
Tax Credits