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International Business Times UK
International Business Times UK
World
Dani Oh

Employers Can Put $2,500 Tax-Free Into Your Child's Trump Account Under New Treasury Rules

US Treasury guidance allows qualifying employers to contribute up to $2,500 a year to an eligible child's Trump Account (Credit: The White House/YouTube Screenshot)

Employers will be able to put up to $2,500 a year into a worker's Trump Accounts, or a child's account, without it counting as taxable income for the employee, under new Treasury guidance setting out how the benefit will work.

The Treasury Department and Internal Revenue Service have also detailed how workers can use payroll deductions to make pre-tax contributions to a dependent's Trump Accounts.

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