born between 2025 and 2028: Trump Accounts (TA) with a $1000 government contribution
Age 13: The Child and Dependent Care Credit generally applies to children at the time the care was provided.
Age 17: Children are no longer eligible for the Child Tax Credit.
Under 19 (or 24 as a full-time student): Generally, a child can be claimed as a dependent if they meet support tests.
Ages 0–23: The “Kiddie Tax” may apply, taxing a child’s unearned income (investments) at the parent’s rate.
Age 25: To claim the federal Earned Income Tax Credit (EITC) without a qualifying child, you must be at least age 25 but under age 65 at the end of the tax year.
Age 26: you can stay on your parents’ plan until the end of the year you turn 26. You have 60 days from the loss of coverage to pick a new plan
Age 30: Coverdell Education Savings Accounts (CESA) must be liquidated.
Age 50: Individuals can make “catch-up” contributions to retirement plans, such as an extra $7,500 to 401(k)s or $1,000 to IRAs for 2025.
Age 55: Early withdrawal penalty from employer plans is waived if separated from service.
Age 59½: The 10% penalty on early distributions from IRAs and 401(k)s no longer applies.
Age 65: Taxpayers receive an additional standard deduction amount, reducing taxable income. According to, the 2025 extra deduction is $2,000 for singles and $1,600 per spouse for married couples.
Age 73: Individuals must begin taking Required Minimum Distributions (RMDs) from most retirement accounts to avoid penalties.