- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedApril 22nd, 2009
- house Committees
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To amend the Internal Revenue Code of 1986 to provide for tax preferred savings accounts for individuals under age 26, and for other purposes.
Kids IRA Act of 2009 or the K-IRA Act - Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 26, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows an income-based tax deduction for contributions to such accounts, up to $5,000 in any taxable year.