Tag: refundable tax credit
Closing the coverage gap, however, is the real way to increase saving. The financial services industry seems very exorcised by a relatively modest proposal in Joe Biden’s tax plan – namely, changing the tax incentive to save for retirement from a deduction to a flat, refundable tax credit. Let’s see if this proposed chang…
But it is too valuable – especially if it were refundable – to slip off the agenda. The Saver’s Credit gives a special tax break to low- and moderate-income taxpayers who are saving for retirement. It was introduced in 2001 and scheduled to expire in 2006. The Pension Protection Act of 2006, however, made t…
