Don’t Forget About the Saver’s Credit This Tax SeasonIf you saved with the YMCA Retirement Fund’s 403(b) Smart Account in 2021, then you may be eligible for the Retirement Savings Contribution Credit, or Saver’s Credit, when you file your taxes. The Saver’s Credit rewards taxpayers who are saving for retirement with a valuable credit that can either increase their refund or reduce the amount of taxes owed. Eligible participants may be able to claim a tax credit worth up to 50%, 20%, or 10% of their 403(b) contribution amount, depending on filing status and adjusted gross income. The maximum credit amount that a person may receive is $1,000 ($2,000 if married filing jointly). The deadline to file your 2021 taxes is Monday, April 18, 2022. The eligibility and the amount someone qualifies for varies depending on the retirement plan, adjusted gross income, filing status, and other factors. At minimum, individuals must be age 18 or older, not a full-time student, and not claimed as a dependent on another person’s tax return. There are also income requirements that apply depending on filing status. A full breakdown of eligibility criteria and credit information can be found here. If you are eligible for the Saver’s Credit, it can be claimed using Form 8880. Didn’t contribute to the Fund’s 403(b) Smart Account in 2021? No problem! You can start saving now and potentially claim the saver’s credit on your 2022 tax return. Simply fill out the 403(b) Smart Account enrollment form and return it to your YMCA HR department to get started saving today!