Important considerations when filing tax returns
Keep this important information in mind about IL ABLE Accounts when filing your 2023 tax return.
News and Updates from the Illinois State Treasurer's ABLE Plan
Important considerations when filing tax returns
Keep this important information in mind about IL ABLE Accounts when filing your 2023 tax return.
One benefit of an IL ABLE Account is that contributions made by Illinois taxpayers to an IL ABLE Account may qualify to take a generous state income tax deduction on their 2023 state tax return – up to $10,000 if filing as an individual or $20,000 if filing jointly. Contributions must be made by December 31for the 2023 tax year. Consult with a tax advisor to discuss your specific situation.
Read More “It’s Not Too Late to Make a Contribution to an IL ABLE Account for 2023”
There is still time to contribute for 2023.
The Holiday Season is upon us and it’s easy to get swept up in the festivities! But remember: Now is a good time to open or contribute to an IL ABLE Account and make the most of your Account savings before the year ends.
What you need 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?