The Internal Revenue Service (IRS) has released proposed regulations that will serve the purpose of implementing a new law that authorizes states to offer ABLE accounts. Achieving a Better Life Experience (ABLE) accounts are designed to help people with disabilities and their family save money while reducing or eliminating the tax burden. This column explains some of the features of ABLE accounts and how they can be a benefit to people who are disabled. The IRS regulations can be read here.
See Lewis J. Saret, Guidance Under Section 529A: Qualified ABLE Programs, Wealth Strategies Journal, June 26, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
