The Achieving a Better Life Experience Act of 2014 (the ABLE Act) was signed into law by President Obama on Dec. 19, 2014. The act amends the Internal Revenue Code by inserting Section 529A, which provides for the tax treatment of ABLE accounts established for the care of individuals with disabilities. Other sections of the United States Code are also amended as necessary to effectuate the intent of the ABLE Act.
The stated purposes of the ABLE Act are as follows:
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