Is the Credit for Qualified Retirement Savings Contributions refundable?

by Nicholas R. Roczko, CPA | Sep 07, 2018

Is the retirement savings contributions credit (Saver’s Credit) refundable, partially refundable, or nonrefundable?

The Credit for Qualified Retirement Savings Contributions filed on Form 8880, also known as the “Saver’s Credit,” is a nonrefundable credit.  
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Answered by: Nicholas R. Roczko, CPA, is with Roczko & Associates in Murrysville, Pa.

The responses are based on the limited information provided by the questioner and apply the laws and regulations at the time of posting. Other options could arise as rules and regulations may change over time, including but not limited to the passage of the Tax Cuts and Jobs Act of 2017. They are intended to provide general information, not specific accounting or tax advice; they are not intended or written to be used and cannot be used for the purpose of avoiding or evading taxes or penalties under the IRS code or regulations. Views expressed do not imply an opinion of the PICPA, its officers, directors, employees, or members.
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