by Kathy Nelson

Breaking News!

On April 29, 2015, the Senate Finance Committee approved three changes that improve and extend 529 College Savings Plans.  The House of Representatives approved a similar bill on February 25, 2015.

Changes:

• Computers are now considered qualified expenses.
• Distributions-To-Date Calculations are no longer required of Plan Administrators.
• Refunds from a college or university to a student that arise because the student had to withdraw from school because of illness or other reasons are no longer taxable nor are they subject to a 10% penalty as they were in the past.

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