PE CPA PLLC

07/02/2026

TRUMP ACCOUNT

The Treasury Department is promoting Trump Accounts, a new type of tax-advantaged savings account for children under age 18 who have a Social Security number.

Congress enacted Trump Accounts in last summer’s OBBB. The accounts are scheduled to launch on July 4, 2026.

Parents may open a Trump Account for their child by filing Form 4547. The form can be submitted through the parent’s IRS individual online account, or it can be e-filed or mailed.

Once a Trump Account election is made, parents will receive an email from the Treasury Department confirming the election and providing instructions on how to set up and activate the account through the Trump Accounts app, available in app stores.

For children born after 2024 and before 2029, the government will deposit $1,000 into each Trump Account. This is a one-time contribution, and parents must opt in using the same method required to open the account. The deposit is expected after July 4, 2026.

Beginning July 4, up to $5,000 per year may be contributed to a Trump Account by parents or any other person until the child reaches age 18.

Of that amount, up to $2,500 may be contributed tax-free by an employer of the parent or beneficiary. Contributions made by parents, relatives, or others are not deductible.

At this time, it is unclear whether a parent or relative must file a gift tax return (Form 709) when contributing to a Trump Account. The AICPA and other tax professional organizations have requested IRS guidance on this issue.

If your child was born before 2025, you may still be eligible to open a Trump Account; however, the child would not qualify for the $1,000 government contribution.

If your child is born before 2024, you are still eligible but will not get the 1,000 incentive.

06/24/2026

Waiting for the IRS to reply to your written communications? Don’t expect a quick response. The IRS’s policy is to generally respond to taxpayer correspondence within 30 days. In some cases, however, the IRS is not meeting this goal, and letters continue to pile up at IRS service centers.

For instance, the IRS’s inventory of written correspondence at the end of the 2025 filing season was 7.6 million, compared to 6.8 million at the end of the 2024 tax filing season. Additionally, the inventory of overage correspondence is also higher than in prior years.

This is leading to frustration for taxpayers, especially those who receive notices from the IRS after mailing the requested documentation. And it’s only getting worse. Expect the 7.6 million figure to increase even more by the end of the 2026 filing season.

CALL PE CPA TODAY FOR A QUOTE
WE'LL GET YOU ANSWERS!

06/16/2026

Is Your Bookkeeper Working… or Just Employed?

Greetings,

Need help catching up and/or cleaning up your bookkeeping? You’re not alone....25% of business owners are behind on their books and struggling with a history of incorrect entries. We're hands on and have successfully helped many companies get back on track. We can train your internal bookkeeper while cleaning up and catching up your business' financials. QuickBooks Online is a good platform to utilize but can be very technical when it comes to making the correct entries.

Whether you’re behind a few months or a few years, PE CPA will bring your financials up to date so you'll worry less about the past and spend more time thinking about the future.

Get some relief today and call us!

03/03/2026

We are truly blessed by our incredible clients who made this recognition possible. We sincerely appreciate those who take the time to share thoughtful and encouraging reviews on Google. Your kind words mean more than you know and remind us why we love what we do every day. Thank you for your continued trust and for supporting our business — we are grateful for each and every one of you.

12/11/2025

11/20/2025

Happy Thanksgiving! We’re so grateful for amazing clients like you. Wishing you and your loved ones a holiday filled with good food, great company, and plenty to celebrate.

From the PE CPA Team