The U.S.
Treasury Department and IRS have issued new guidance that would make it easier for parents and employers to put money into Trump Accounts for children.
The Treasury announced the guidance Tuesday, outlining how employers could contribute to the accounts and allow employees to direct pretax dollars from their paychecks into accounts for their children.
The proposal is subject to public comment and a hearing in October before the rules can be finalized.
Pretax money is taken from a paycheck before income taxes are calculated, which can reduce the amount of income subject to tax before the money goes into the account.
