Withholdings
One of the main changes the U.S. is experiencing comes from the IRS and regards the tax withhholdings from employees’ paychecks.
A considerable amount of taxpayers will benefit from the tax cuts more than ever because their paycheck tax withholdings will decrease. Republican politicians have said they expect the new tax law to become more popular once people see more take-home pay.
The new guidance is expected to be implemented by employers in February, so it won’t be until this month that we will actually feel the changes.
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