This Overlooked Retirement Tax Credit Gets Better in 2021

The saver’s credit can knock as much as $1,000 or $2,000 off your federal income tax bill, depending on whether you file an individual or joint return. Yet many folks don’t know this tax credit exists. That’s right: Only 38% of workers are aware of the saver’s credit, also known as the retirement savings contributions credit, according to a 2019 survey. And retirees who still save money in…

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