IRS Proposes Rules For New ABLE Accounts – Disability Scoop

IRS Proposes Rules For New ABLE Accounts – Disability Scoop.

Good news for those who have been waiting! 22 states have passed legislation that allows for the creation of a bank account to cover “qualified expenses” as defined by the IRS. If you want to find out about the draft IRS rules, or the status within your state, please click the links above. Wisconsin has Senate Bill 165, and Assembly Bill 236, which are still being discussed. The best course of action is to ask when the Ways and Means Committee will be granting rule-making authority.

The Members of the Ways and Means Committee are:

Representative Spiros (Chair)

Representative Macco (Vice-Chair)

Representative Kerkman

Representative Novak

Representative Steffen

Representative Jacque

Representative Katsma

Representative Petersen

Representative Riemer

Representative Zepnick

Representative Ohnstad

Representative Brostoff

The Committee Clerk is Angela Hodkiewicz

I have sent an email to the Committee Clerk, and will post an update when I receive her reply.