Tax Reform Explained

Under President Donald Trump’s Working Families Tax Cuts Act, known as the One Big Beautiful Bill Act, families can open tax-advantaged savings accounts for children under 18, including eligible newborns who may receive a $1,000 government contribution to boost security. Overview of Trump Accounts Trump Accounts are innovative savings vehicles akin to individual savings accounts (IRAs) designed to help families build wealth from the birth of a child. For a child born in 2025 through 2028,...

With the 2026 filing season quickly approaching, the Internal Revenue Service is urging taxpayers to take a few simple steps now to prepare for filing their 2025 federal income tax returns. One of the most important steps taxpayers can take is to access their IRS Individual Online Account . IRS Individual Online Accounts are available 24/7, to view account information, make payments, manage communication preferences and protect tax information. Another very important aspect to consider is...