12/05/2011

Retirement Contributions and Saver's Credit

Did you know that you may qualify for the Saver's Credit of up to $1,000 ($2,000 if filing jointly) for making eligible contributions to an employer-sponsored retirement plan or an individual retirement arrangement (IRA)? Unlike a deduction, a credit is a dollar-for-dollar reduction of your federal income tax liability and can reduce the amount you owe or increase your federal income tax refund! See the Full Story on IRS Outreach Corner.

Courtsey of IRS Outreach Corner

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