Kwik Tax Income Tax Service

01/17/2026

More information about TRUMP ACCOUNTS can be found here:

Today, President Donald J. Trump joined top lawmakers and philanthropists Michael and Susan Dell to celebrate an extraordinary milestone for Trump

01/14/2026

IRS E-File starts
January 26, 2026

01/14/2026

What are Trump Accounts?

A Trump Account is a traditional IRA established for a child and designated as a Trump Account at the time of opening, according to IRS guidance. The child for whom the account is opened is the beneficiary and the legal owner of the account.

Think of Trump Accounts as starter IRAs for kids. These new accounts operate in a custodial-style structure: The assets are owned by the child, while an adult—typically a parent or guardian—is authorized to act on the child’s behalf until the beneficiary reaches age 18.

Under the new program, the Treasury Department will create and administer the initial accounts. Over time, families will be able to roll over the account to a financial provider that has a Trump Account product.

Who is eligible for a Trump Account?

Children under age 18 with a Social Security number are eligible for Trump Accounts. The Treasury’s pilot program adds a one-time $1,000 seed contribution for US citizens born between January 1, 2025, and December 31, 2028, when a tax election is filed on the child’s behalf. Only one funded Trump Account is allowed per child.

Children who aren’t eligible for the seed contribution can also get a Trump Account—they just won’t receive the $1,000 contribution. Families may still find good reasons to consider it.

How do you open a Trump Account?

Opening a Trump Account starts with an election process through the IRS—either by filing Form 4547 or using the upcoming online tool at trumpaccounts.gov. Elections are scheduled for mid-2026, with accounts becoming available July 5, 2026. Once the election is complete, the Treasury will provide instructions to activate the account.

The IRS is expected to issue more guidance for rollover accounts at financial institutions, which can only be opened after the initial Treasury account exists. These details will be clarified as the program expands.

Trump Accounts provide eligible American children with tax-advantaged investment accounts courtesy of President Donald J. Trump.

12/12/2025

IR-2025-119, Dec. 9, 2025 — The Department of the Treasury and the Internal Revenue Service today issued Notice 2026-05 providing guidance on new tax benefits for Health Savings Account participants under the One, Big, Beautiful Bill.

12/09/2025

Trump accounts are new government investment accounts for children under 18, launching in 2026 with $1,000 federal deposits and U.S. stock index fund investments.

04/18/2025

IR-2025-47, April 14, 2025 — The Internal Revenue Service announced today tax relief for individuals and businesses in the entire state of Tennessee affected by severe storms, straight-line winds, tornadoes and flooding that began on April 2, 2025.

04/05/2025

IR-2025-40, April 3, 2025 — The Internal Revenue Service today reminds taxpayers that they don’t need to wait until April 15 to file their 2024 federal return, and if they owe and are unable to pay the balance in full, there are payment plans available to help them pay their tax obligation.

03/18/2025

Tax Tip 2025-18, March 18, 2025 — Many taxpayers file their federal tax returns and then eagerly anticipate details about their refund.

01/13/2025

IRS announces Jan. 27, 2025 start to 2025 tax filing season.

01/13/2025

KWIK TAX has resumed normal business hours!

12/21/2024

IR-2024-314, Dec. 20, 2024 — As part of continuing efforts to help taxpayers, the Internal Revenue Service today announced plans to issue automatic payments later this month to eligible people who did not claim the Recovery Rebate Credit on their 2021 tax returns.

12/15/2024

IR-2024-309, Dec. 10, 2024 — The Internal Revenue Service today reminded those aged 73 and older of the deadline to take required minimum distributions from individual retirement arrangements (IRAs) and other retirement plans, and highlighted updates introduced by the SECURE 2.0 Act.