Proposed regulations to implement “Trump accounts,” the new savings accounts for children created by the 2025 Republican tax-and-spending law, will be issued “very, very, very soon,” an IRS official said Thursday.
In addition, additional guidance will be forthcoming on employers’ contributions to Trump accounts under Section 128 of the federal tax code, said Philip Lindenmuth, executive counsel to the chief counsel in the IRS Office of Chief Counsel.
The IRS also hopes to issue further guidance on the broader scope of the Trump accounts before they become active July 4, said Lindenmuth, who was speaking at a Federal Bar ...
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