Authored by Naveen Athrappully via The Epoch Times,
The Internal Revenue Service (IRS) and the Department of the Treasury plan to propose regulations for a federal retirement savings incentive program, including eligibility criteria and income thresholds for qualifying for such benefits.
IRS Chief Executive Officer Frank J. Bisignano (L) speaks as President Donald Trump looks on prior to signing a presidential proclamation honoring the 90th anniversary of the Social Security Act in the Oval Office on Aug. 14, 2025. Mandel Ngan/AFP via Getty ImagesAimed at low- and moderate-income taxpayers, the IRS Saver's Match is a new federal program that seeks to promote retirement savings. In general, Saver's Match will replace the existing Saver's Credit program for taxable years beginning in 2027.
Under the program, the government will provide eligible taxpayers up to 50 percent of the first $2,000 in retirement savings contributions made to an employer-sponsored retirement plan or IRA.
The amount caps at $1,000 annually and will be paid to eligible individuals beginning in 2028 based on the retirement contributions they made in the 2027 tax year, the IRS said in an Aug. 7 statement.
In a notice issued on Friday, the IRS and the Treasury described regulations that they expect to be in the forthcoming proposed rules.
Four types of retirement savings contributions would qualify for Saver's Match: contributions to a Roth or traditional IRA; cont
