News and Updates from the Illinois State Treasurer's ABLE Plan
3 ABLE Act Provisions Made Permanent
Congress passed the ENABLE Act, and it was signed into law on July 4. The new law makes three ABLE account provisions permanent. These provisions were first approved in 2017 but were scheduled to expire at the end of 2025.
Read More “Congress Passes the ENABLE Act to Expand ABLE Account Benefits”
Important considerations when filing tax returns
Keep this important information in mind about IL ABLE Accounts when filing your 2023 tax return.
What you need to know about IL ABLE Accounts at tax time.
Tax season is upon us! Here is some important information to keep in mind about your IL ABLE Account when filing your 2022 tax return.
Maximizing the benefits of saving and investing with IL ABLE
Did you know that an Account Owner’s contributions to their IL ABLE Account may be eligible for the Retirement Savings Contributions Credit – also known as the Tax Savers Credit?
Consider opening or contributing to an IL ABLE account.
Tax refunds are always welcome, and they can give you a chance to think about the disability expenses you want to save for. Do you want to save the refund for an unexpected medical expense? Are you going to need new tires for the car that gets you to and from your job? Is there travel in your future? Whatever your financial dreams and goals, contributing your tax refund to an IL ABLE account can help you reach them.
Read More “Use Your Tax Refund to Open or Contribute to an IL ABLE Account”
Ugift® is an easy-to-use, no-cost way to make a meaningful holiday gift to a loved one with a disability. How does it work?
First, the IL ABLE Account Owner or Authorized Individual signs in to the account and finds the unique Ugift® code.
Next, they share the code with family members, friends, or anyone who wants to contribute.
The gift giver then visits UgiftABLE.com, enters the code, and makes a direct contribution to the IL ABLE account.
The Ugift® code can be shared via email, social media, a printed invitation, by phone, or in person. Contributions can be made for holidays, birthdays, milestones, or any occasion.
Read More “Give the Gift of Savings to an IL ABLE Account Owner with Ugift®”
I can only open an ABLE account in the state where I live.