IRS and Treasury Establish Gift Tax Safe Harbor for 'Trump Accounts' Contributions

AI-generated NewsSnap summary based on source reporting.
Published: 2026-06-29
Category: us
Source: Internal Revenue Service
Original source

The Treasury Department and IRS have issued new guidance, Revenue Procedure 2026-25, to create a gift tax reporting safe harbor. This measure applies to contributions made to "Trump accounts" established under the Working Families Tax Cuts, aiming to reduce the administrative burden for individuals contributing to these children's accounts.

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