More than 4 million children have claimed their Trump Accounts
Deprecated: str_getcsv(): the $escape parameter must be provided as its default value will change in /var/www/html/breaking-news/wp-content/plugins/wp-auto-affiliate-links/aal_engine.php on line 361
The Washington Examiner, citing IRS data, reports that parents of more than four million American children have already claimed “Trump Accounts” on their 2025 tax returns as part of the One Big Lovely Bill Act.The program provides a $1,000 government seed for each eligible child born between 2025 and 2028, with additional annual contributions from others allowed starting July 4, 2026. by March 25, 2025, 983,784 children had qualified for the $1,000 seed via Form 4547, and a total of 4,031,827 children were listed on Forms 4547 for 2025. In addition to the Trump Accounts, the tax reforms touted include no tax on tips, no tax on overtime, and other measures that reportedly boosted refunds this season. IRS data show 37,501,692 individual filers benefited, with the average refund among those filers around $3,460, and the overall average refund about $3,569.72, up more than 9% from last year. The White House characterizes these reforms as evidence of a strengthened middle class. The piece also briefly mentions Iran peace talks and a related White House statement.
Parents of more than 4 million children have already claimed their Trump Accounts
EXCLUSIVE — Internal Revenue Service data reviewed by the Washington Examiner shows that the parents of more than four million American children have already claimed their so-called Trump Accounts while filing their 2025 tax returns.
Last year, President Donald Trump‘s One Big Beautiful Bill Act launched the aforementioned, tax-deferred investment accounts for children. The accounts provide a $1,000 contribution from the federal government for all children born to U.S. citizens between Jan. 1, 2025, and Dec. 31, 2028.
Parents can claim those accounts either through an IRS portal or by filing Form 4547 with their federal tax returns. According to IRS data, 983,784 children have qualified for the $1,000 bonus via Form 4547 through March 25.
Though they won’t receive the $1,000 in federal seeding, parents with children born before Trump’s second term can also claim Trump Accounts. IRS data show that, in total, 4,031,827 children were listed on Forms 4547 for 2025 as of March 25.
Parents, friends, companies, and philanthropists can begin their own annually-capped contributions to the accounts starting on July 4, 2026.
Beyond the Trump Accounts, IRS data shows that the One Big Beautiful Bill’s tax reforms, including “no tax on tips,” “no tax on overtime,” a $6,000 deduction for seniors, and a $10,000 deduction for filers who purchased an American car, significantly boosted Americans’ tax refunds this season.
According to the IRS, 37,501,692 individual filers, making up 43.9% of all individual filers through March 25, benefitted from Trump’s tax reforms. The average return for those individuals totalyed roughly $3,460.
Furthermore, returns for all individual filers this year average $3,569.72 — a more than 9% increase from last year.
With affordability top of mind ahead of the 2026 midterm elections, Trump and White House officials have consistently pointed to the president’s tax reforms as a major indicator of the strength of his economic agenda.
TRUMP SAYS IRANIAN POWER PLANTS WON’T BE TARGETED FOR 10 MORE DAYS AS PEACE TALKS STALL
When asked about the IRS data Thursday, White House spokeswoman Olivia Wales told the Washington Examiner that “President Trump delivered the largest middle-class tax cut in history — and American families across the country are reaping the benefits.”
“The Working Families Tax Cut created Trump Accounts, to invest in the next generation of American children; enacted No Tax on Tips, No Tax on Overtime, and No Tax on Social Security to put more money back in hardworking Americans’ pockets; and increases the child tax credit,” she wrote in a statement. “After four years of economic pain under the Democrats, President Trump is making everyday life more affordable for working families and the best is yet to come.”
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
