ABLE National Resource Center (ABLE NRC)
ABLE accounts are tax-advantaged savings accounts for individuals with disabilities and their families.
ABLE accounts were created as a result of the passage of the Stephen Beck Jr. Achieving a Better Life Experience Act of 2014, better known as the ABLE Act.
The beneficiary of the account is the account owner, and income earned by the accounts will not be taxed. Contributions to the account, which can be made by any person (the account beneficiary, family, friends Special Needs Trust or Pooled Trust), must be made using post-taxed dollars and will not be tax deductible for purposes of federal taxes; however, some states may allow for state income tax deductions for contributions made to an ABLE account.
For the first time, eligible individuals and their families can establish ABLE savings accounts that will largely not affect their eligibility for SSI, Medicaid and means-tested programs such as FAFSA, HUD and SNAP/food stamp benefits.
The ABLE National Resource Center (ABLE NRC) is the leading comprehensive source of objective, independent information about federal- and state-related ABLE programs and activities, including guidance on tax-advantaged ABLE savings accounts. Our mission is to educate, promote and support the positive impact ABLE can make on the lives of millions of Americans with disabilities and their families. ABLE NRC is a collaborative that brings together the investment, support and resources of some of the country’s largest and most influential national disability organizations in an effort to accelerate the design and availability of ABLE accounts to meet the needs of individuals with disabilities and their families.
Our pioneering work in this area and subject matter expertise makes us the foremost authority on topics related to the Achieving a Better Life Experience (ABLE) Act, ABLE accounts, state ABLE programs, ABLE-related policy developments, and programmatic integration of ABLE and financial capability strategies for people with disabilities into public service delivery system planning and activities.
Founded and managed by National Disability Institute (NDI) since 2015, ABLE NRC’s website has become the go-to source for all information on ABLE for people with disabilities and their families, as well as employers, state and federal agencies, service providers, tax practitioners, financial planners and attorneys.