Saver's Credit Chart

Saver's Credit 

One of the many recent tax changes that could help your wallet in coming years is called the Saver's Credit (formerly known as the Retirement Savings Contribution Credit). Basically, if you're not a big income earner and are putting money in a retirement account, you may get a break on your taxes for the next few years.  
 
Here's the deal: If you save money in a 401(k), IRA, 403(b) or 457 plan, the government will match your money as much as 50 percent, up to a maximum of $1,000.

• If you are single (or married filing separate) and have an adjusted gross income (AGI) of $16,750 or less, you get the full 50% match from the government of $1,000. Earnings above $27,750 will make you ineligible for the credit.
• If you're married and filing jointly, the maximum you can earn to get the $1,000 credit is $33,500 combined. Earnings above $55,550 will make you ineligible for the credit.
• If you file as head of household, the maximum you can earn to get the $1,000 credit is $25,125. Earnings above $41,625 will make you ineligible for the credit.

As you make more money, the match goes down. Below is a chart that spells it out for you. Special thanks to ObliviousInvestor.com for running the numbers for tax year 2010.