More Americans Will Qualify for This Extra $2,000 Tax Credit in 2022: Do You?
If you're aiming to save more money on your taxes, a Saver's Credit might do the trick. Formerly known as the Retirement Savings Contributions Credit, this tax break can knock off up to $1,000 ($2,000 if married) on your tax bill. It's a generous IRS incentive designed to encourage more people to stash money away for retirement.
There's a small catch, though: You have to contribute to an eligible retirement account and meet income qualifications. Fortunately, the IRS just released the new income ranges for 2022, and they are bigger than ever.
We'll break down the latest Saver's Credit qualifications and help you determine if you're in the running for this offer.
Source Fool.com
