The IRS wants you to recheck your paycheck due to new tax laws
LAS VEGAS (AP) —
The Internal Revenue Service is making changes to the guidelines that help workers determine how much of their paycheck is withheld by their employer as income taxes.
The IRS rolled out new income-tax withholding tables Thursday as it begins to adapt to changes in the tax law enacted last month.
The guidelines require employers to use new withholding tax rates no later than Feb. 15.
Individual taxpayers aren't required to make any changes right now.
Later this year, the IRS expects to revise the Form W-4, which employees use to ultimately determine how much of their pay is withheld toward income taxes.
The IRS also plans to release a new withholding calculator to help individual taxpayers determine the correct amount of withholding by the end of February.