Latest / Durham News Today | 2 Min News | The Daily News Now!
Trump Accounts Launching for Kids | Durham News
Starting July 4th, every child born in the U.S. between January 1, 2025, and December 31, 2028, will get $1,000 in a new government-backed “Trump Account” designed to grow through smart investments. Parents can sign up via IRS Form 4547, and family, friends, and even corporations can contribute up to $5,000 annually per child—with tax breaks for donors. Major companies are already matching contributions, and private donors are stepping in too. The money, invested in broad index funds, is locked until age 18, then can be used for education, homebuying, or starting a business—no penalties. It’s…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.