This Secret Saver's Tax Credit Gets More Attractive in 2021

If you can't take advantage of all the glamorous tax breaks that the top 1% receive, don't sweat it. There are tax perks for everyone -- including the Saver's Credit for low- and moderate-income individuals. This hidden gem can put up to $1,000 or $2,000 back in your pockets in 2021.

Saving for retirement is a distant dream for many. That's why the IRS is rewarding individuals who save money in a qualified employer retirement plan, IRA, or ABLE account by offering the Retirement Savings Contributions Credit -- a dollar-for-dollar reduction on the income taxes you owe now as you save toward financial freedom in your golden years. Your adjusted gross income (AGI) will determine if you can unlock the saver's credit during the 2021 tax year -- the one for which your return is due by April 2022.

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Source Fool.com