The Internal Revenue Service (IRS) reported on Tuesday that over 4 million U.S. children have been registered for the tax-advantaged Trump Accounts, with more than 1 million choosing the $1,000 pilot program contribution.
The IRS, working with the Treasury Department, has simplified the election process. As Frank J. Bisignano, IRS Chief Executive Officer, stated, “Families with eligible children born between 2025 and 2028 just need to check the box on a form to stake their claim for the $1,000 contribution. It’s that simple.”
The data reflects only the number of Form 4547 (Trump Account Election) filings submitted with individual tax returns to the IRS so far.
The “Trump Accounts” or “Invest America” accounts were established under President Donald Trump‘s One Big, Beautiful Bill. The initiative provides every child born between Jan. 1, 2025, and Dec. 31, 2028, a tax-advantaged investment account, seeded with $1,000 from the …Full story available on Benzinga.com
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