In the last several years, Congress has made it much more desirable to save for retirement. One of the tax credits which was introduced provides tax credits for low income earners that are putting money away for retirement, called the “Retirement Savings Contribution Credit.”

If you save money into a 401(K) plan or invest through an individual retirement arrangement (IRA), the government will match the money that you deposit by as much as 15%. If you are single and you make $15,000 or less, you could get a 50% match from the government on amounts up to $1000.

If you are married and filing your taxes jointly, you can qualify for the credit if your marginal adjusted gross income is under $50,000. If you are married and make less than $30,000 combined, you can take advantage of the maximum benefit.

Here’s a table that details how much you might qualify for under the credit: 

Income for Married Couples	Income for Singles	Income for Head of Household	Match Rate:
AGI up to $32,000	AGI up to $16,000	up to $24,000	50%
$32,000 to $34,500	$16,000 to $17,250	$24,000 to $25,875	20%
$34,500 to $53,000	$17,250 to $26,500	$25,875 to $39,750	10%