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Increasing chart Tax Credit

Boost Participation with Tax Credit

Very few lower income employees are aware of the double tax benefit available through the Saver’s Credit or Retirement Savings Contribution Credit because it’s not in the 1040EZ tax form. But depending on their income, they can get an extra $1,000 to $2,000 tax credit if they participate in their employer’s retirement plan. A Transamerica survey reported less than 25% of these people know this. In 2016 it’s estimated that 70% of workers are eligible with incomes as follows:

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