Treasury and IRS release new guidance on tax withholdings
By Naomi Jagoda - 01/11/18 02:48 PM EST
The IRS and Treasury Department on Thursday issued new guidance on tax withholdings from employees' paychecks, a key step in its implementation of the new tax law that President Trump signed last month.
The new guidance will allow many taxpayers to start seeing bigger paychecks due to the new law. The IRS is encouraging employers to implement the new withholding tables by Feb. 15.
"We estimate that 90 percent of wage earners will experience an increase in their take-home pay," Treasury Secretary Steven Mnuchin said in a news release.
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http://thehill.com/policy/finance/368542-treasury-and-irs-release-new-guidance-on-tax-withholdings