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Public Finance Matters Updates on recent public finance and municipal bond developments

Category Archives: Section 529 plans

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ABLE Programs and Beneficiaries Boosted by Helpful Guidance from IRS and Social Security Administration

Posted in Section 529 plans

By LEN WEISER-VARON The Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 (ABLE Act), one of the few recent examples of bipartisan cooperation on a new category of tax and budget expenditure, is both well-intentioned in its principles and cumbersome in its details, another example of the proposition that a camel is a… Continue Reading

Enactment Imminent for Section 529A Tax-Exempt Savings Programs for Disabled Beneficiaries

Posted in Section 529 plans

By LEN WEISER-VARON On December 16, 2014 the U.S. Senate approved the Achieving a Better Life Experience (“ABLE”) legislation previously approved by the House, authorizing state-sponsored tax-exempt savings programs for disability-related expenses. President Obama is expected to sign the legislation (which is part of the “tax-extenders” bill) before the year is out. Pursuant to the legislation,… Continue Reading

SEC Approves Revised Semi-Annual Data Reporting Requirements for Section 529 Plan Underwriters

Posted in Section 529 plans

By LEN WEISER-VARON After initially putting the brakes on the MSRB’s attempt to use underwriters of Section 529 college savings plans as its data-gathering team, the SEC has pressed the accelerator and approved an amended MSRB Rule G-45  requiring such underwriters to submit periodic electronic reports to the MSRB providing specified data regarding the applicable… Continue Reading

IRS Ruling Treats Certain 529 Account Incentive Payments as Reportable Income

Posted in Section 529 plans

By LEN WEISER-VARON The IRS recently issued a private letter ruling, PLR 201310043 (released on March 8, 2013), of interest to Section 529 plans and their program managers. The ruling relates to the tax treatment of incentive contributions to 529 accounts and was issued in response to a ruling request by a financial services complex… Continue Reading