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College Savings Plans Network
Saving for College? Treasury and IRS Increase Flexibility for 529 Plans
January 24th, 2009
In response to a request from the College Savings Plans Network (CSPN) and other college savings groups, the U.S. Treasury Department (Treasury) and the Internal Revenue Service (IRS) have issued a ruling that allows 529 plan account owners to change their investment strategy twice per calendar year. Section 529 plans are tax-advantaged college savings vehicles which have become the preferred way for Americans to save for college. Previously, owners of 529 college savings plan accounts could change their investment strategy once per calendar year. The new ruling -- which is in effect for calendar year 2009 -- is a direct response to current conditions in the financial...
Source: Law & Health Weekly (2009-01-24)
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