April 15th is fast approaching, and with it the last chance to make IRA contributions for 2007. For many Americans, your tax dollars can be used to improve your retirement savings, via the Saver's Credit.
The saver’s credit can be claimed by:
* Married couples filing jointly with incomes up to $52,000 in 2007 or $53,000 in 2008;
* Heads of Household with incomes up to $39,000 in 2007 or $39,750 in 2008; and
* Married individuals filing separately and singles with incomes up to $26,000 in 2007 or $26,500 in 2008.
The amount of the credit ranges from 10% to 50%, based upon the actual income of the person filing.
If you know of anyone who qualifies for this credit, please help them to take advantage of it. Even a fairly small gift can have a big impact when used in this way.