Babies will get their $1,000 'Trump accounts' in 2026 – along with tax complications
Yahoo Finance·2025-12-31 20:41

Newborns can look forward to the promised Trump accounts in the new year, but if parents, grandparents, friends or relatives plan to contribute, they can look forward to a tax headache, experts said. Trump accounts are savings accounts to encourage children and families to save and build wealth for the many expenses of adulthood.  Starting in July, the government will seed the accounts with $1,000 for all children born between 2025 and 2028 with a Social Security number, thanks to the tax and spending pac ...