ABLE Account Rules Relaxed by IRS
Are you planning to set up an "Achieve a Better Life Experience" (ABLE) account? A recent IRS notice and changes enacted in a tax law passed in December 2015 can help ease the administrative requirements. ABLE accounts are tax-advantaged accounts designed to help you build savings to care for yourself or a loved one with disabilities while maintaining eligibility for benefit programs such as Medicaid. Generally, you'll qualify for an ABLE account if your disability occurred before age 26.
Call us at 505-897-7382 for details about the latest changes in ABLE account requirements.
"ABLE accounts are modeled on 529 college savings accounts and can be as powerful and beneficial. Give us a call so we can help you make the most of this new opportunity."
Review a blog post from last year for more detailed qualification for an ABLE Account: "Are You Able to Benefit from an ABLE Account?"