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Income limits for this little-known tax break are rising. Find out if you will qualify for it. Lopolo / Shutterstock.com
The saver’s credit can knock as much as $1,000 or $2,000 off your federal income tax bill, depending on whether you file an individual or joint return. Yet many folks don’t know this tax credit exists. That’s right: Less than half of workers are aware of the saver’s credit, also known as the retirement savings contributions credit, according to a survey by the Transamerica Center for Retirement…
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