Nam's Tax Service

Welcoming a new member of your family will come with new benefits under the Working Families Tax Cuts. The and Treasury have issued guidance that overviews how Trump Accounts work and answers questions on creating the account, the $1,000 pilot program contribution and more. Taking advantage of this individual retirement account (IRA) for your child starts them off with a leg up. These funds cannot be withdrawn from the accounts until January 1 of the year the child turns 18. After that point, the account is treated like a traditional IRA.

Learn more about Trump Accounts at https://ow.ly/nYLo50XBrVx.

Tax documents added to IRS Individual Online Account tool, enhancing services and convenience for taxpayers | Internal Revenue Service IR-2025-28, Feb. 27, 2025 — The Internal Revenue Service announced today it’s making it easier for taxpayers to file their taxes by adding information return documents to their IRS Individual Online Account, helping consolidate important tax records into one digital location.