Qualifying low-income wage earners may not only deduct their IRA contributions but they may take a credit for their contribution.

Name: Qualifying low-income wage earners may not only deduct their IRA contributions but they may take a credit for their contribution.
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Low-income wage earners may be eligible for the Saver's Credit, which allows them to take a credit for contributions to an IRA or employer-sponsored retirement plan, in addition to deducting their IRA contributions.

Qualifying Low-Income Wage Earners May Not Only Deduct Their IRA