Parents of more than 4 million children have claimed Trump Accounts: report

Parents of more than four million children have claimed Trump Accounts, according to a report. The tax-deferred investment accounts for children were instituted by President Trump's One Big Beautiful Bill Act last year, providing a $1,000 contribution from the federal government for all children born to U.S. citizens between Jan. 1, 2025, and Dec. 31, 2028, the Washington Examiner reported. Parents can claim the accounts for their children either through an IRS portal or by filing Form 4547 with their federal tax returns. Per IRS data reviewed by the news outlet, 983,784 children have qualified for the $1,000 bonus via...