06/02/2026
June Tax Info
Did you have a new Baby in 2025 or 2026?
Have you signed up for a Trump account?
NEW INFORMATION DROPPED YESTERDAY!
Keep reading!
How to set up your Trump Account--
Here’s what you need to do now:
**Go to TrumpAccounts.gov and fill out IRS Form 4547 to set up your account. Once you’ve done that, you will receive an email from [email protected] to confirm your account. The emails will be sent out in waves starting today.
**Download the Trump Accounts app from the Apple App Store or Google Play or by visiting TrumpAccounts.gov. Your confirmation email will include activation directions to complete in the app.
***Accounts will go live starting July4***
**Contributions may be made from parents, family members, employers and others starting that day. Parents or others can make contributions up to $5,000 a year to the Trump account until the child turns 18. Companies can also contribute up to $2,500 a year into the account of an employee’s eligible child without adding to the worker’s taxable income.
**Also on July 4, eligible children will begin receiving the $1,000 pilot program contribution from the U.S. Treasury Department. Children born from the beginning of 2025 through the end of 2028 are eligible for the $1,000 federal contribution. Kids born before this year are eligible for an IRA-style account but won’t receive the $1,000 seed money.
**Recipients must also be a U.S. citizen with a Social Security number.
**Children will be able to access the money when they turn 18. After age 18, the yearly contribution limit is expected to increase
to $7,000 in keeping with traditional IRA rules. **There is a 10% penalty for withdrawing money from an IRA before age 59-and-a-half but there are exceptions for home purchases or higher education expenses.
Trump Accounts provide eligible American children with tax-advantaged investment accounts courtesy of President Donald J. Trump.
