IRS Releases Guidance On New Trump Accounts For Children [Forbes]
Dell Technologies Inc. Class C (DELL)
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Source: Forbes
The IRS has released new guidance on Trump Accounts, a new type of individual retirement account (IRA) for eligible children created under the One Big Beautiful Bill Act (OBBBA). What Are Trump Accounts? Trump accounts are a new kind of retirement savings account created by Congress as part of OBBBA. Under OBBBA, a Trump account can be opened for any qualifying child under 18 at the end of that calendar year. A qualifying child must have a Social Security number. To open the account, an authorized person (such as a parent or guardian) must make an election. After the election is filed, the Treasury will create the initial Trump account for the child. The federal government will also deposit a one-time $1,000 “pilot program” contribution into the Trump account of any eligible child (with an election) who is a U.S. citizen and whose birth falls between January 1, 2025, and December 31, 2028. This $1,000 will not count against any contribution limits. The funds in Trump Accoun
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- Is It Deductible? The Tax Rules Around The Dells' $6.25 Billion Contribution To Trump Accounts [Forbes]Forbes
- 'Trump accounts' could give your child up to $1,000 for free. Your top questions, answered [CNBC]CNBC
- How AI is transforming produce and the future of farming [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Dell declares $0.525 dividend [Seeking Alpha]Seeking Alpha
- Dell Technologies Declares Quarterly Cash DividendBusiness Wire
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