The One Big Beautiful Bill Act (OBBBA) establishes Trump Accounts, which are basically traditional IRAs with some twists for under-age-18 account beneficiaries.
Some are skeptical about whether Trump Accounts are an attractive tax-favored savings option, but we disagree. Played right, they deliver a win. Here’s what you need to know.
Pilot Program Offers Free Trump Account Money for Newborns
Free money is always a good thing, right? Right.
Under a pilot program for Trump Accounts, you as a parent can make an income tax election on behalf of your newborn who is born as a U.S. citizen in 2025-2028. The IRS will explain how to make the election, so stay tuned for that.
Once you make the election, your beloved federal government will enroll your newborn in the pilot program and fund a Trump Account with $1,000. ... Log in to view full article.
