The tax-free savings accounts for people with disabilities are modeled after tax-free college savings accounts. To qualify, a person would have to be diagnosed by age 26 with a disability that results in marked and severe functional limitations; those receiving Social Security disability benefits would also qualify. Families would be able to set up tax-free accounts at financial institutions, depositing up to $14,000 annually to pay for long-term needs such as education, transportation, housing and health care.
Posted on: Mon, 22 Dec 2014 12:15:56 +0000
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