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Mnuchin: New Withholding Guidance Means Larger Paychecks in February

CNS News
Mnuchin: New Withholding Guidance Means Larger Paychecks in February

(CNSNews.com) - Treasury Secretary Steven Mnuchin announced Thursday that his department and the IRS have released new withholding guidance in accordance with the tax cut reform measure that the president signed into law in December. “This new guidance will mean that workers and their families will receive larger paychecks starting in February. This has been a massive project that we've been working on, beginning to implement the tax plan. There's a lot of work left to be done, but we're estimating that 90 percent of the workers are going to see an increase in take-home pay because of the Tax Cuts Act,” he said during the White House press briefing. “This historic legislation doubles the standard