IRS Interim Guidance Regarding Administrative Concerns
On November 20th, 2015, the IRS released interim guidance related to the following:
- The requirement to establish safeguards to categorize distributions from ABLE accounts;
- The requirement to request the taxpayer identification number (TIN) of each contributor to an ABLE account; and
- The requirements for disability certification that would make it mandatory for the individual with a disability to submit a signed physician’s statement regarding their eligibility for an ABLE account.