Level 5

Question

Trump Account form 4547

Forum|Forum|5 months ago
January 29, 2026
7 replies
144 views

Can someone explain the details of the new Trump accounts and the tax form 4547

Why does Proseries not populate the information from the information worksheet to the form 4547

Does form 4547 have to go in with the return for the taxpayer to get the $1,000, it looks like there would be another question on the dependent information screen that would take the childs information to the 4547

If the employer makes a contribution to the employees dependents account is the employer contribution a tax deduction expense for the employer

ProSeries Professional

ljr

Level 9

There was another post suggesting that the form populate from the info worksheet but we have no idea if that will be coming out in an update or not.

We are planning to ask the parents if they want the form completed when we add the new baby. Looks like a simple form to complete and there is a check box that say are you filing this form with your tax return.

I'm not sure of the details for employers

Jim-from-Ohio

Intuit Community Champion

@ljr Do you know if we complete the 4547 with the 1040 that the 4547 gets efiled along with the 1040?

dascpa

Level 11

The 4547 can be completed and e-filed with the 1040. Or it can be mailed in separately. Or it can be filed online when the website is [eventually] up. Or - supposedly the government will get the new birth records from Social Security and handle it themselves. This last one I would not rely on AT ALL.

The form just doesn't ask for the new baby info. It asks for the filer's info and relationship. The standard is easy - mom or dad from a joint return. It gets more difficult when mom and dad do not file together, or are even married.

I'm taking the position of I will complete the form and separately have the taxpayer sign it and mail it in. Makes me look good that I'm helping them get another benefit, rather than just another piece of paper within a 60 page tax return.

sjrcpa

Level 15

https://www.irs.gov/pub/irs-pdf/i4547.pdf

The more I know the more I don’t know.

ljr

Level 9

proseries help on form 4547 say the fastest, safest and easiest way to make the election is for file form 4547 with your current year efiled return. Also, the Dell money is for ages 1-10 on a first come first serve basis until that money runs out. New baby gets the $1,000 period. The form does have a box to check to if the child qualifies for the $1,000

D

dbtaxsolutions

Level 6

Wow, proseries could have done this auto population at the on set rather than us having to re enter info. For tech guy to do this is no brainer. Oh well. Hope they improve it soon.

U

UnityJim

Level 4

Is the IRS processing the Form 4547 that is eFiled with the tax return?

Form 8879-TA says the ERO must retain this signature page.

I am believing that the IRS is not processing the Form 4547 because there is no signature on the form and/or maybe the 8879-TA is not properly attached. Clients seem to be getting an IRS letter that perhaps indicates that the form is not signed.

Is this an IRS issue or an Intuit issue in correctly processing the eFiled Form 4547?

U

UnityJim

Level 4

Further to my question above:

The IRS letter (Notice CP318) states: After reviewing your submission, we can't process your Trump account election due to the following reason: Your election was missing information, hard to read, or had illegible information.

The Form 4547 was filed with the return, the ERO kept the 8879-TA as instructed. There does not appear to be any missing information. All information on the form was typed per ProSeries input.

Not sure how to respond to the IRS, except to send another form 4547.

This potentially affects numerous returns.

BobKamman

Level 15

AI Slop hasn't caught up with this yet; it advises, "There is no official IRS notice labeled CP318." And there are no readily-found references to Trump Accounts or Form 4547 in the Internal Revenue Manual. Are you sure this is authentic IRS correspondence? What does it tell you to do?

D

dkrclark

Level 2

I also recieved a CP 318. I have spent hours trying to figure out how to respond. This is not an AI scam, this is a real notice and many other practioners have received them. Does anyone know the best way to handle? Do you try and complete the form on the Trumpaccounts.gov or mail the efiled 4547 ( with wet signatures) to the IRS alond with the notice?

sjrcpa

Level 15

Hours? For which I assume you are not getting paid.

per above:

"If they are not processing the Form 4547 that you tried to file, tell the taxpayer to go to Trump Accounts dot gov to open the account."

The more I know the more I don’t know.

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