U.S. Markets close in 3 hrs 53 mins

Republicans predict paychecks will grow as IRS issues new tax withholding guidelines

Republicans predict paychecks will grow as IRS issues new tax withholding guidelines

Workers who are up for a tax cut should start seeing bigger paychecks in the coming weeks, now that the Internal Revenue Service has released guidance for employers about how much tax they should withhold from employees’ take-home pay in 2018. Employers should begin using the new withholding tables as soon as possible, but not later than Feb. 15, the IRS said in a notice issued Thursday. “This is outstanding for families in Texas and taxpayers across the country,” House Ways and Means Chairman Kevin Brady (R-Texas) said in a statement. Republicans have promised that American wage earners will see bumps in their paychecks starting in February — after employers have made the withholding adjustments.