GREENSBORO, N.C. — By now, you've heard that every kid born between 2025 and 2028 is getting $1,000 in a Trump Account. And, thanks to a contribution by the Dells, kids born between 2016 and 2024 are going to get $250 if they live in a household where the median income is $150,000 or less.

So, how are parents getting this money for their kids? Let's verify.

Sources:

The Department of the Treasury

Internal Revenue Service

Info:

The Treasury and the IRS released what they call 'guidance and a notice of upcoming regulations' for 'a new type of individual retirement account for eligible children'. On the IRS website, it says:

The IRS is posting a draft version of Form 4547, and when final, the new form can be used to establish a Trump Account and to enroll in the pilot program.

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