IRS releases new tax withholding guidelines

The Internal Revenue Service on Jan. 11 released the new income-tax withholding tables as part of the recently approved $1.5 trillion tax reform bill, and it shows that employees could start seeing changes in their paychecks as soon as next month.

The new guidelines indicate how much employers should withhold as taxes from workers’ paychecks beginning Feb. 15.

The president and Republicans insist that Americans will be pleased with the new tax law once they see less money being withheld from their income.

“With this guidance, most American workers will begin to see bigger paychecks. We estimate that 90 percent of wage earners will experience an increase in their take home pay,” U.S. Treasury Secretary Steven T. Mnuchin, said in a statement, adding, “These tax cuts will ensure that American workers are able to keep more of their hard earned income and decide how to spend, invest or save it.”

View the new guidelines here.

Reader comments

Sun, Jan 28, 2018 Earnest Cave Goldsboro, NC 27534

Everyone has chosen sides. If Obama had done this everyone would love it. At the end of the day, all money comes from the people. It can't be for wealthy donor. Democrats own Google and Facebook(lol).

Tue, Jan 23, 2018

Bias agaainst Dems. Calling this tax reform. It's not. It's just getting into debt. We'll all be paying for in a big way with deficits.

Thu, Jan 18, 2018

Last reader "anon" made a good point. It is NOT reform. It is about a huge tax cut for fat cats. Ridiculous. But the name is somehow of course sticking. Should be called Rich Jerk Tax Cut

Thu, Jan 18, 2018 Adam

The "tax cut designed to reward wealthy donors and blow a bigger hole in the budget. . ." is sending my TSP through the roof. Yeah TAX REFORRM!

Tue, Jan 16, 2018 Anon2

I agree with anon. Call it what it is so people aren't blindsided later.

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Edward A. Zurndorfer Certified Financial Planner
Mike Causey Columnist
Tom Fox VP for Leadership and Innovation, Partnership for Public Service
Mathew B. Tully Legal Analyst

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