Clients can now view and submit Trump Account elections in their IRS Individual Account

New IRS Individual Account features allow clients to view and submit Trump Account elections. Through IRS Individual Account, clients can securely access their tax information and complete common tasks online, such as:

– Viewing the latest submission status of their Form 4547, Trump Account Election(s), including next steps; and
– Submitting Form 4547, Trump Account Election(s), electronically.

Electronic submissions improve accuracy, speed up processing times, and reduce delays associated with paper forms.

A one-time $1,000 pilot program contribution from the Department of the Treasury is available for eligible children born between Jan. 1, 2025, and Dec. 31, 2028, who are U.S. citizens with a valid Social Security number.

Tax professionals and their clients can learn more about Trump Accounts at trumpaccounts.gov.