As I have previously discussed, the IRS issued a notice to encourage states to begin enacted legislation for ABLE programs prior to guidance issuance. The ABLE Act requires that states create ABLE programs by enacting regulations in order for ABLE accounts to available. Over half of the states have begun that process. As of last week, three state governors, West Virginia, Utah, and Virginia, had ABLE bills pending their approval.
See Michelle Diament, State Moving Forward on ABLE Accounts, Disability Scoop, March 13, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
