Hello, is Retirement Savings Contribution the same as 401K?

courtland84 · ‎February 3, 2020

KurtL1 · ‎February 3, 2020

The Savers Credit gives a special tax break to low- and moderate-income taxpayers who are saving for retirement. Formerly called the Retirement Savings Contributions Credit, the Savers Credit gives a special tax break to low- and moderate-income taxpayers who are saving for retirement. It is not the 401(k) contribution.

This could help explain the tax credit. What Is the Savers Credit?.

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View solution in original post

KurtL1 · ‎February 3, 2020

The Savers Credit gives a special tax break to low- and moderate-income taxpayers who are saving for retirement. Formerly called the Retirement Savings Contributions Credit, the Savers Credit gives a special tax break to low- and moderate-income taxpayers who are saving for retirement. It is not the 401(k) contribution.

This could help explain the tax credit. What Is the Savers Credit?.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Hello, is Retirement Savings Contribution the same as 401K?