Federal Register NPRM: Guidance Under Section 529A, Qualified ABLE Programs

Posted by Alexandra Kielty - On July 15, 2015 (EST)

A Notice Of Proposed Rulemaking And Notice Of Public Hearing on Guidance Under Section 529A: Qualified ABLE Programs has been issued in Federal Register, Vol. 80, No. 119, on Monday, June 22, 2015. Comments must be received by September 21, 2015.

SUMMARY: This document contains proposed regulations under section 529A of the Internal Revenue Code that provide guidance regarding programs under The Stephen Beck, Jr., Achieving a Better Life Experience Act (ABLE) of 2014. Section 529A provides rules under which States or State agencies or instrumentalities may establish and maintain a new type of tax-favored savings program through which contributions may be made to the account of an eligible individual with a disability to meet qualified disability expenses. These accounts also receive favorable treatment for purposes of certain means-tested Federal programs. In addition, these proposed regulations provide corresponding amendments to regulations under sections 511 and 513, with respect to unrelated business taxable income, sections 2501, 2503, 2511, 2642 and 2652, with respect to gift and generation-skipping transfer taxes, and section 6011, with respect to reporting requirements. This document also provides notice of a public hearing on these proposed regulations.

To access the Federal Register Notice, please click on View Page Now or go to: http://www.gpo.gov/fdsys/pkg/FR-2015-06-22/pdf/2015-15280.pdf

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Modified On : July 15, 2015
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