Earlier this month, New Jersey joined the list of states with an ABLE Plan. An ABLE account is a special tax-favored disability savings account designed to help individuals living with a severe disability save and manage...more
Based on changes implemented by the Tax Cuts and Jobs Act, this is an update on a previous post written by Eileen Y. Lee Breger in May 2017, “Families Can Use a Tax-Advantaged ABLE Account to Save for Disability Expenses.” ...more
On December 22, 2017, the President signed into law the bill formerly known as the Tax Cuts and Jobs Act (the Final Bill). This alert summarizes the principal provisions affecting Section 529 Qualified Tuition Programs and...more
In 2014, new federal legislation was enacted to help relieve the financial strain often faced by so many individuals with disabilities or special needs. The Achieving a Better Life Experience Act (“ABLE Act”) was signed into...more
Late last year, Congress passed, and the President signed, the Achieving a Better Life Experience (ABLE) Act. The act authorizes a new, tax-advantaged savings account, modeled after the Section 529 college savings account,...more
Although the Achieving a Better Life Experience Act (or ABLE Act) was signed into law on December 19, 2014, many states have been waiting to offer ABLE accounts authorized by the Act until the IRS published regulations. The...more
In late December 2014, President Obama signed into law the "Achieving a Better Life Experience Act of 2014" (known as the ABLE Act). The Act extends the 529 college savings account rules to allow for similar, tax-free "ABLE...more