The IRS’s election-year quandary: When to boost Americans’ paychecks
The agency is under pressure to take as little as possible so people will see big increases in their take-home pay ahead of midterm elections.
By BRIAN FALER
01/10/2018 05:04 AM EST
The IRS is facing its first big challenge implementing the new tax law: deciding how much in taxes to withhold from millions of Americans’ paychecks.
The agency is under pressure to take as little as possible so people will see big increases in their take-home pay ahead of this year’s midterm elections.
But that would come at a cost: smaller or even nonexistent refunds next year, though millions rely on them to plug holes in their family budgets. Democrats are already accusing the Trump administration of plotting "phantom windfalls" ahead of the November contest that will come back to haunt taxpayers next tax season.
more
https://www.politico.com/story/2018/01/10/tax-reform-paychecks-irs-332183
