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H.R. 1125

BillFederalHouseIn Committee
Start Saving Sooner Act of 2015
About This Bill
Committee
Latest Action · February 26, 2015
Referred to the House Committee on Ways and Means.
Congress
114th (2015–2017)
Introduced
February 26, 2015
Cosponsors (10)
3D 7R
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Summary

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Start Saving Sooner Act of 2015 Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 18, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows the tax credit for retirement savings for contributions to a young savers account. Directs the Secretary of the Treasury to pay any overpayment of tax that is attributable to the tax credit for retirement savings to the taxpayer's young savers account.

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