Posted by James F. Weber on 03.10.16
Did you make contributions to a traditional or Roth IRA, a myRA, or a SEP or SIMPLE plan in 2015? You may qualify for the Retirement Savings Contributions Credit, more popularly known as the “saver's” credit. If you're eligible, you can apply this federal income tax credit against the tax you owe on your 2015 return. The credit is available even if you take a tax deduction for a traditional IRA contribution, as well as for IRA contributions for last year that you make before the April due date of your return.
Need help with your retirement contributions? Contact Jim Weber at 419-885-8338; we would be happy to help!