Tax-advantaged savings approved for people with disabilities

Tax-advantaged savings approved for people with disabilities

In the final days of 2014, Congress approved a bill to create a new tax-advantaged savings vehicle for people with disabilities. The Achieve a Better Life Experience (ABLE) Act amends the tax code beginning in 2015 and establishes tax-free savings accounts for people with disabilities. These accounts, which are similar to a 529 college plan,