Uncle Sam helps you save more

Find out if you're eligible for the Saver's Credit.

The Saver's Tax Credit rewards low and moderate income taxpayers who are working hard and need more help saving for retirement. If you qualify, it gives you a federal income tax credit on your federal income tax return – just for investing for retirement through your IRA, 403(b), 457 and/or 401 plan.

The Saver's Tax Credit is a non-refundable income tax credit that could reduce your federal income tax liability to $0.

Your eligibility depends on two things: your filing status and your modified adjusted gross income.

These charts helps you find out if you qualify for the Saver's Tax Credit.

Filing Status/Adjusted Gross Income for 2020

Amount of Credit	Joint	Head of Household	Single/Others
50% of first $2,000 deferred	$0 to $39,000	$0 to $29,250	$0 to $19,500
20% of first $2,000 deferred	$39,001 to $42,500	$29,251 to $31,875	$19,501 to $21,250
10% of first $2,000 deferred	$42,501 to $65,000	$31,876 to $48,750	$21,251 to $32,500

Filing Status/Adjusted Gross Income for 2019

Amount of Credit	Joint	Head of Household	Single/Others
50% of first $2,000 deferred	$0 to $38,500	$0 to $28,875	$0 to $19,250
20% of first $2,000 deferred	$38,501 to $41,500	$28,876 to $31,125	$19,251 to $20,750
10% of first $2,000 deferred	$41,501 to $62,000	$31,126 to $48,000	$20,751 to $32,000

Source: The Saver’s Credit: 2020 Rules and Income Limits

Get the help you need

Talk with one of our Account Executives to find out more and develop an investment plan for your retirement goals.

Information provided by Account Executives is for educational purposes only and not intended as investment advice. Please contact your tax advisor for more information. Investing involves market risk, including possible loss of the money invested.