Question

multiple choice
question 19
listen
when a young person first starts working in the full time workforce, saving to a retirement account and taking advantage of the savers credit at income tax filing time is a very smart idea! up to 50% of the amount contributed to the retirement account can be returned via the credit to reduce the tax liability.
a true
b false

Explanation:

The Savers Credit (also known as the Retirement Savings Contributions Credit) is a tax credit for low - and moderate - income workers who contribute to retirement accounts. The credit can be up to 50% of the amount contributed (up to a certain limit) and is used to reduce tax liability. So the statement in the question is correct.

Answer:

A. true