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U.S. Workers Could See Impact Of New Tax Law By February

The first paychecks of 2018 will be dispatched soon, but it may be weeks or months before taxpayers and payroll processors know how the new U.S. tax laws will affect workers’ take-home pay, Reuters reports. The Internal Revenue Service said it expected to issue guidance in January on how much in taxes employers should withhold based on the new tax rates. Employers and payroll services would then implement those changes starting in February. Workers not even notice when it happens because the effect on their paychecks could be relatively small, depending on their income and tax situation. Pete Isberg, vice president of government relations at ADP, the largest payroll processor in the United…