Irs gov 529 qualified expenses code#
This document contains final regulations amending 26 CFR parts 1, 25, 26 and 301, to provide guidance under section 529A of the Internal Revenue Code (Code). End Further Info End Preamble Start Supplemental Information SUPPLEMENTARY INFORMATION: Background Start Further Info FOR FURTHER INFORMATION CONTACT:Ĭoncerning the final regulations under section 529A, Taina Edlund, (202) 317–4541, or Julia Parnell, (202) 317–4086 concerning the estate and gift tax regulations, Lorraine Gardner, (202) 317–4645, or Daniel Gespass, (202) 317–4632 concerning the reporting provisions under section 529A, Isaac Brooks, (202) 317–6844 (not toll-free numbers).
These regulations affect eligible individuals that are designated beneficiaries of accounts established and maintained under the ABLE Act. In addition, these final regulations provide corresponding amendments to the unrelated business income tax regulations, the gift and generation-skipping transfer tax regulations, and the electronic filing requirements regulations. These accounts also receive favorable treatment for purposes of certain means-tested Federal programs. The ABLE Act provides rules under which States or State agencies or instrumentalities may establish and maintain a Federal tax-favored savings program for eligible individuals with a disability who are the owners and designated beneficiaries of accounts to which contributions may be made to meet qualified disability expenses. This document contains final regulations that provide guidance regarding programs under the Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 (ABLE Act). Internal Revenue Service (IRS), Treasury. PART 602-OMB CONTROL NUMBERS UNDER THE PAPERWORK REDUCTION ACT.PART 26-GENERATION-SKIPPING TRANSFER TAX REGULATIONS UNDER THE TAX REFORM ACT OF 1986.PART 25-GIFT TAXES GIFTS MADE AFTER DECEMBER 31, 1954.Gift and Generation-Skipping Transfer (GST) Taxes Rollovers and Program-to-Program Transfers No Pledging of Interest as Security for a Loan Return of Excess Compensation Contribution Return of Excess Contributions and Excess Aggregate Contributions Application of Gift Tax and GST to Contributions to an ABLE Account Additional Contribution Limit and Applicable Poverty Line
Limit on Number of ABLE Accounts of a Designated Beneficiary Establishment and Signatory of an ABLE Account Community Development Financial Institutions
Irs gov 529 qualified expenses pdf#
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