Every now and then the IRS does something that really sounds like it makes a lot of sense. There are people with disabilities that have not been able to previously save money without putting their government benefit status in jeopardy. Many have argued that people with disabilities have been stifled by not being to earn more than they’re receiving from the government.
Earlier in the year, the IRS revealed plans for Achieving a Better Life Experience – ABLE, whereby disabled people would be able to save money. State officials opposed the plan on points they felt would make it too burdensome for people.
In response, the IRS rolled back its original plan to offer one with less burdensome and stringent rules. Those opening such an account would not need submit medical documentation to qualify. However, they would have to swear under perjury that they have a medical condition that qualifies them.
Anything that help a person with disabilities get back on their feet is a good thing. All too often, government programs mean well, but simultaneously lock recipients back recipients into a corner that makes it difficult for them to fully benefit from the program. On the surface, this sound like a positive move.
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Law Offices of Darrin T. Mish, P.A.: Tax Attorney