Tax law leads to paycheck bump for many US workers - Tucson News Now

Tax law leads to paycheck bump for many US workers

Workers might see changes in their checks as soon as their next payday. (Source: KOLD News 13) Workers might see changes in their checks as soon as their next payday. (Source: KOLD News 13)
TUCSON, AZ (Tucson News Now) -

Workers across the country many see a bump in their paychecks as some changes in the tax reform law are implemented.

The change is due to new withholding tables recently introduced by the IRS.

The IRS said the new tables were necessary to reflect changes in tax rates and tax brackets, increased standard deduction and repeal of personal exemptions - included in the tax reform law.

Local accountant Don Hartman said workers could see the changes in their checks as soon as their next payday. He said it may not be significant but definitely noticeable.

“Twenty dollars every two weeks and twenty dollars a week adds up over the course of a year,” he said.

Ben Weinstein runs his own business with his wife. He said he’s been busy implementing the new changes. He said he’s excited his employees will get more money in their pockets.

“It’s good for everybody. It especially helps people who you know are on a tighter budget. Any time they can get some more money back it’s a good thing,” he said.

And Sonia Murphy agrees.

“I’m very excited actually. I’m considered a single mom right now so yeah, definitely it’s going to bump me up quite a bit so I’m really excited about that,” she said.

Hartman said the changes may affect the amount withheld from each paycheck. He said taxpayers should figure out those details as it could affect the amount you owe when you file in 2019.

Employers are required to switch to the new tables by Feb. 15.

MOBILE USERS: Download the Tucson News Now app for Apple and Android devices.

Copyright 2018 Tucson News Now. All rights reserved.

Powered by Frankly