You can elect to open Trump Accounts for your eligible children using the newly-created IRS Form 4547. You can do this when you file your taxes or through an online portal that will be available by summer 2026. Continue to check TrumpAccounts.gov for the latest information.
General deduction rules. Generally, taxpayers must itemize deductions on Schedule A (Form 1040), Itemized Deductions to claim a deduction for charitable contributions. However, beginning with tax year 2026, taxpayers who do not itemize may be able to deduct up to $1,000 in cash contributions, or $2,000 for married taxpayers filing jointly, made to certain qualified organizations.
At Walrath Tax Service, LLC, our team of tax professionals has over 41 years of experience in the tax industry. We have helped thousands of clients with their tax needs and strive to provide the highest quality of service.
If you make a mistake on your tax return, we can help you to correct it and file an amended return if necessary. It's important to address any mistakes as soon as possible to avoid penalties or further issues.
Yes, we offer IRS audit assistance to help you navigate the audit process and ensure that your rights are protected. Our team will work with you every step of the way to help you achieve the best possible outcome.