The deadline for employers to fully implement the new tax withholding tables is this Thursday. With this deadline, even more Americans will see lower taxes and higher net pay in comparison to their previous pay stubs. Don’t forget to check your next paycheck to see the impact!
Speaking of taxes, the IRS is also now accepting tax returns for the 2017 year. This will be the last time you will have to file your tax returns using the old, archaic, and complicated system.
Next year, we all will use the new system required by the Tax Cuts and Jobs Act. Check out this calculator, created by the non-partisan Tax Foundation think-tank to see how the Tax Cuts and Jobs Act impacts your personal finances.
Congressman Daniel Webster represents The Villages in the U.S. House of Representatives.