What is the federal tax Form 8880?

Federal Form 8880 is the Credit for Qualified Retirement Savings Contributions form, which figures the amount of any retirement savings contributions credit a taxpayer claims, explains the Internal Revenue Service. The form is available on the Internal Revenue Service website.

The IRS offers a tax credit for contributions made to retirement savings accounts, explains Turbo Tax. When a taxpayer takes a tax credit, it reduces the amount of taxes owed. In order for a taxpayer to claim the retirement savings credit, he must use IRS Form 8880. Qualifying retirement plans include Roth IRAs, traditional IRAs, and 401(k) and 403(b) plans.