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retirement savings contributions credit

A federal tax credit that applies to contributions made to qualified retirement plans by income eligible taxpayers. The credit is calculated as a percentage of the contributions made, from 10% to 50%, depending on the taxpayer's adjusted gross income (AGI). Generally, the lower a taxpayer's AGI, the higher the percentage of the tax credit. The maximum credit is $1,000 for single filers and $2,000 for joint filers. Also called retirement saver's credit.

Related information about retirement savings contributions credit:
  1. Get Credit for Your Retirement Savings Contributions
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  2. Tax Topics - Topic 610 Retirement Savings Contributions Credit
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  3. Form 8880 - Internal Revenue Service
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  4. Tax Credit For Savings Made For Retirement | Bankrate.com
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  5. Retirement Savings Contribution Credit
    Details on a credit some taxpayers can claim when they contribute to an IRA or 401k.
     
  6. What is the Retirement Savings Contributions Credit?
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