Here’s who can claim a ‘special tax credit’ for retirement savings [Video]

How the saver’s credit works

Still, if you qualify for the saver’s credit, you could score multiple tax breaks for a last-minute deposit, including a possible deduction for pretax IRA contributions or future tax-free growth for Roth IRA deposits, said Mark Steber, chief tax information officer at Jackson Hewitt.

Why few filers claim the saver’s credit