IRS ISSUES NEW UPDATED WITHHOLDING TABLES
One of the most often heard Congressional talking points for the Tax Cuts and Jobs Act (TCJA) was that millions of workers would see an increase in their take home paychecks. To this end, on Thursday, the IRS issued new wage withholding guidelines. The guidelines are needed so employers can calculate how much tax to withhold from employees’ pay.
Employees should begin seeing changes in their paychecks by February 15th (or sooner) since it normally takes about a month to update systems....
