Saver's Credit #4015

DianaShi5083 · 2024-02-28T04:15:23Z

codecov · 2024-02-28T04:32:08Z

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@@           Coverage Diff            @@
##           master    #4015    +/-   ##
========================================
  Coverage   99.16%   99.17%            
========================================
  Files        2423     2408    -15     
  Lines       35074    34855   -219     
  Branches      171      163     -8     
========================================
- Hits        34782    34566   -216     
+ Misses        262      259     -3     
  Partials       30       30

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policyengine_us/parameters/gov/irs/credits/retirement_saving/age.yaml

...yengine_us/variables/gov/irs/credits/retirement_savings/retirement_saving_eligible_person.py

policyengine_us/variables/gov/irs/credits/retirement_savings/retirement_saving.py

...yengine_us/variables/gov/irs/credits/retirement_savings/retirement_saving_eligible_person.py

policyengine_us/parameters/gov/irs/credits/retirement_saving/age.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/head_of_household.yaml

into DianaShi5083/issue3841

policyengine_us/parameters/gov/irs/credits/retirement_saving/age_threshold.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/agi_threshold.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/contributions_cap.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/head_of_household.yaml

policyengine_us/variables/gov/irs/credits/retirement_savings/retirement_saving_credit.py

into DianaShi5083/issue3841

...yengine_us/variables/gov/irs/credits/retirement_savings/retirement_saving_eligible_person.py

policyengine_us/variables/gov/irs/credits/retirement_savings/retirement_saving_credit.py

policyengine_us/variables/gov/irs/credits/retirement_savings/retirement_saving_agi_eligible.py

...yengine_us/variables/gov/irs/credits/retirement_savings/retirement_saving_eligible_person.py

policyengine_us/variables/gov/irs/credits/retirement_savings/retirement_saving_credit.py

...sts/policy/baseline/gov/irs/credits/retirement_saving/retirement_saving_eligible_person.yaml

...ine_us/tests/policy/baseline/gov/irs/credits/retirement_saving/retirement_saving_credit.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/threshold/agi.yaml

policyengine_us/parameters/gov/states/ca/tax/income/credits/renter/amount.yaml

PavelMakarchuk · 2024-03-18T23:58:11Z

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/head_of_household.yaml

need to make some adjustments:
Create 2 match files
head of household (75%)
other (50%)

break the joint.yaml into 3 threshold and 3 rate files
upper
middle
lower

in the calculation when checking which rate is applied we will need to decrease the threshold based on filing status, if not joint

into DianaShi5083/issue3841

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/match/separate.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/match/single.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/match/widow.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint/threshold/higher.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint/rate/middle.yaml

policyengine_us/variables/gov/irs/credits/retirement_savings/savers_credit.py

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint/threshold/middle.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/match/separate.yaml

into DianaShi5083/issue3841

changelog_entry.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint/rate/higher.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint/rate/lower.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/contributions_cap.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint/rate/middle.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint/rate/lower.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint/threshold/higher.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint/threshold/middle.yaml

MaxGhenis · 2024-04-05T21:17:54Z

may be helpful: https://github.com/Budget-Lab-Yale/Tax-Simulator/blob/main/src/calc/functions/credits/savers_cred.R

into DianaShi5083/issue3841

PavelMakarchuk · 2024-04-08T23:41:02Z

may be helpful: https://github.com/Budget-Lab-Yale/Tax-Simulator/blob/main/src/calc/functions/credits/savers_cred.R

@MaxGhenis Does Tax Simulator model all of the non-refundable credits or just the ones that are used in that formula? I don't think I see any other non-refundable credits. this makes me wonder whether the reduction of the tax liability by just the three credits here is accurate (we did not see that logic in the forms)

MaxGhenis

Please replace the rate/threshold file pairs with a single scale parameter. You can then look up the AGI by dividing by the threshold adjustment factors (0.5 for single, etc.)

policyengine_us/parameters/gov/irs/credits/retirement_saving/threshold/agi.yaml

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/match/head_of_household.yaml

policyengine_us/variables/gov/irs/credits/retirement_savings/savers_credit_eligible_person.py

policyengine_us/variables/gov/irs/credits/retirement_savings/savers_credit_agi_eligible.py

MaxGhenis · 2024-04-09T00:15:06Z

policyengine_us/variables/gov/irs/credits/retirement_savings/savers_credit_eligible_person.py

change this to tax unit level so it can be the defined_for

I am not sure if changing this to the tax unit level would be the most accurate representation since we want to check each head and spouse individually (whether they are a student etc.) - e.g. I believe if both made contributions but the head was a student, then the contributions of the spouse would still be eligible for this credit

Or we can make the main calculation person level to include this situation

ok i think i might have made that comment with respect to an older version of the code, doesn't seem relevant now

into pr/DianaShi5083/4015

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint.yaml

MaxGhenis · 2024-04-29T13:56:58Z

policyengine_us/variables/gov/irs/credits/retirement_savings/savers_credit_person.py

+        qualified_contributions = add(
+            person,
+            period,
+            [


make this a list parameter and cite https://www.law.cornell.edu/uscode/text/26/25B#d_1 and the relevant sections it sub-cites. this will include other variables we have like 403b contributions

@PavelMakarchuk Is this required parameter the same as this one?

This parameter doesn't seem to be used in any variable.

Yes, exactly. We have other examples of list parameters

Yes, exactly. We have other examples of list parameters

Should I overwrite it?

make a new list parameter

MaxGhenis · 2024-04-29T13:57:28Z

policyengine_us/variables/gov/irs/credits/retirement_savings/savers_credit_person.py

+                "traditional_401k_contributions",
+            ],
+        )
+        capped_qualified_contributions = min_(


subtract distributions per https://www.law.cornell.edu/uscode/text/26/25B#d_2

MaxGhenis · 2024-04-29T13:58:22Z

policyengine_us/variables/gov/irs/credits/retirement_savings/savers_credit_person.py

+            ],
+            default=1,
+        )
+        # Credit rate


Suggested change

# Credit rate

adjusted_agi = agi / threshold_adjustment

credit_rate = p.rate.joint.calc(adjusted_agi)

MaxGhenis · 2024-04-29T14:01:04Z

policyengine_us/variables/gov/irs/credits/retirement_savings/savers_credit_eligible_person.py

ok i think i might have made that comment with respect to an older version of the code, doesn't seem relevant now

PavelMakarchuk · 2024-05-09T01:49:26Z

Duplicate of newly created #4506

PavelMakarchuk · 2024-05-09T01:50:14Z

Duplicate of #4506

Saver's Credit

db1a3f1

Fixes PolicyEngine#3841

PavelMakarchuk marked this pull request as draft February 28, 2024 04:50

PavelMakarchuk requested changes Feb 28, 2024

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MaxGhenis requested changes Feb 28, 2024

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policyengine_us/parameters/gov/irs/credits/retirement_saving/age.yaml Outdated Show resolved Hide resolved

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policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/head_of_household.yaml Outdated Show resolved Hide resolved

DianaShi5083 added 2 commits March 6, 2024 11:35

Merge branch 'master' of https://github.com/PolicyEngine/policyengine-us

4776b74

into DianaShi5083/issue3841

Adjustment

0281b95

PavelMakarchuk requested changes Mar 6, 2024

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DianaShi5083 added 3 commits March 11, 2024 19:07

Adjustment

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Merge branch 'master' of https://github.com/PolicyEngine/policyengine-us

f61e260

into DianaShi5083/issue3841

Adjustments

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PavelMakarchuk requested changes Mar 13, 2024

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policyengine_us/parameters/gov/states/ca/tax/income/credits/renter/amount.yaml Outdated Show resolved Hide resolved

Solved merge conflicts

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PavelMakarchuk reviewed Mar 18, 2024

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DianaShi5083 added 2 commits March 25, 2024 23:49

Merge branch 'master' of https://github.com/PolicyEngine/policyengine-us

583aef2

into DianaShi5083/issue3841

Adjusted savers credit logic

e9c8fe4

PavelMakarchuk requested changes Mar 27, 2024

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MaxGhenis reviewed Mar 27, 2024

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policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/joint/threshold/middle.yaml Outdated Show resolved Hide resolved

policyengine_us/parameters/gov/irs/credits/retirement_saving/rate/match/separate.yaml Outdated Show resolved Hide resolved

DianaShi5083 added 2 commits April 1, 2024 23:10

Adjustments

e27fc51

Merge branch 'master' of https://github.com/PolicyEngine/policyengine-us

7335186

into DianaShi5083/issue3841

PavelMakarchuk requested changes Apr 1, 2024

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DianaShi5083 added 2 commits April 8, 2024 22:47

Merge branch 'master' of https://github.com/PolicyEngine/policyengine-us

1042c60

into DianaShi5083/issue3841

Adjustments

a421a25

format

5fdd1d4

PavelMakarchuk requested a review from MaxGhenis April 8, 2024 23:49

PavelMakarchuk marked this pull request as ready for review April 8, 2024 23:49

Name Changing, Widow

359f2cd

MaxGhenis requested changes Apr 9, 2024

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PavelMakarchuk added 4 commits April 28, 2024 11:59

Merge branch 'master' of https://github.com/PolicyEngine/policyengine-us

622919c

into pr/DianaShi5083/4015

parameter format

e6c8acf

variable and test adjustment

201abad

format

417dd50

PavelMakarchuk requested a review from MaxGhenis April 29, 2024 08:05

MaxGhenis requested changes Apr 29, 2024

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minor par

1555aa3

PavelMakarchuk marked this as a duplicate of #4506 May 9, 2024

PavelMakarchuk closed this May 9, 2024

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Saver's Credit #4015

Saver's Credit #4015

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PavelMakarchuk commented May 9, 2024

PavelMakarchuk commented May 9, 2024

	# Credit rate
	adjusted_agi = agi / threshold_adjustment
	credit_rate = p.rate.joint.calc(adjusted_agi)

Saver's Credit #4015

Saver's Credit #4015

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PavelMakarchuk commented May 9, 2024

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