Saver's Credit
The Saver's Credit is a federal tax credit worth up to $1,000 ($2,000 for couples) for low- and moderate-income workers who save for retirement.
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Frequently asked questions about Saver's Credit
What is Saver's Credit?+
The Saver's Credit is a federal tax credit worth up to $1,000 ($2,000 for couples) for low- and moderate-income workers who save for retirement.
Who qualifies for Saver's Credit?+
Workers and families who meet the credit's income limits and filing rules. You generally need to file a tax return to claim it, even if you don't owe tax.
How do I apply for Saver's Credit?+
Claim it on your federal tax return (Form 1040). Free filing help is available through IRS Free File and VITA sites. Official forms and instructions: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-savers-credit.
Where can I get help?+
IRS Free File at irs.gov/freefile and free VITA tax help sites can walk you through the credit at no cost. Veterans can use MilTax for free.