Search Results: keywords:"gift tax exclusion"

  • H. R. 750 — To amend the Internal Revenue Code of 1986 to provide incentives for education.
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    Status:Introduced in House
    Words:1,337

    The Achieving Choice in Education Act aims to amend the Internal Revenue Code to provide educational incentives. It expands the use of 529 education savings accounts to cover costs associated with homeschooling and other K-12 expenses, increases the limit on 529 plan...

    Simple Explanation

    The Achieving Choice in Education Act wants to make it easier for families to pay for school by letting them use special savings accounts, called 529 plans, for homeschool costs and to save even more money. It also tries to encourage states to pass school choice laws by giving them extra financial benefits, but some people think it might not be fair for everyone.

  • S. 311 — To amend the Internal Revenue Code of 1986 to provide incentives for education.
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    Status:Introduced in Senate
    Words:1,322

    The Achieving Choice in Education Act aims to modify the Internal Revenue Code to provide more educational funding options and incentives. It allows expenses for homeschooling and other school-related costs to qualify as "higher education expenses" under 529 savings plans....

    Simple Explanation

    The Achieving Choice in Education Act wants to help people pay for schooling in new ways by making it easier to use special savings for school costs. It also tries to encourage states to give more choices for schools by using special rules for money.