The Treasury Department released new withholding tables that ensure many Americans will see higher pay checks. According to the department, 90-percent of Americans will see larger paychecks starting next month. “This new guidance means that workers and their families will receive larger paychecks starting in February,” announced Treasury Secretary Steven Mnuchin.
This means that American workers don’t have to do anything to receive the savings.Despite less withholding, it is also expected that tax returns will not be effected.The average income tax return for 75% of Americans is $2800.This is expected to remain the same for most American workers, even while their take home pay increases.
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