Daily Tax Update - April 27, 2015: JCT Releases Revenue Estimate for Expansion of Tax-Favored College Savings Accounts

JCT Releases Revenue Estimate for Expansion of Tax-Favored College Savings Accounts:  Today, the Joint Committee on Taxation (JCT) released a description and revenue estimate of a bill (S. 335) that would allow the purchase of computers and related items and services with funds from section 529 tax-favored savings accounts.  According to the JCT, the bill would cost approximately $51 million through 2025.  The House of Representatives passed its version of the bill (H.R. 529) on February 25.

Miscellaneous Guidance:
Notice 2015-37 provides guidance on eligibility for minimum essential coverage under section 36B for individuals who may enroll in coverage under Children’s Health Insurance “buy-in” programs that the Department of Health and Human Services designates as minimum essential coverage.