Got my first pay check of the new year. No tax cut that I can see.

[Yavin4]

Not even a trickle.

[TreasonousBastard]

1. Aside from the simple fact you're being screwed, it takes a few weeks for the tax software...

to update the withholding tables.

You should see your $3.17 reduction in another paycheck or two.

[drray23]

2. they won't adjust withdrawals until at least february. That is when the guidance from the IRS

will be send to businesses.

[The Velveteen Ocelot]

3. I don't think the IRS has issued the revised withholding tables yet.

There is still a concern that the IRS, at the direction of the WH, will under-withhold for this year to make it look like people got a bigger tax cut than they really did - and then they won't get a refund next April or will have to pay more tax, but that will be after the 2018 election so who cares?

[Luciferous]

4. Decrease in pay here to pay for increase in insurance costs. So even if we get a tax cut it will

just offset that cost.

[exboyfil]

5. Did you itemize before?

If you didn't, then it is almost certain that you will see a tax cut (exception being number of kids and how it falls out with marginal rate their exemption once fell under).

Not saying it is a good bill, but it means over $2K more for my wife and myself. Last year was my last year claiming my daughter as an exemption so the bill comes at the best time for me.

[Keefer]

6. Supposed to start

next month, after the withholding tables are adjusted.

Treasury just released them today.

[FreeState]

7. I ended up paying $140 more in taxes this month n/t

[gopiscrap]

8. same here

[fescuerescue]

9. February is when they are scheduled.

Not sure when in Feb.

[Yavin4]

10. February of what year? n/t

[fescuerescue]

11. Actually I just looked it up.

The new tax tables are out today. https://www.irs.gov/pub/irs-pdf/n1036.pdf

They must be implemented by employers no later than February 15 (this year)

From the IRS document:

2018 Withholding Tables
This notice includes the 2018 Percentage Method
Tables for Income Tax Withholding. Employers should
implement the 2018 withholding tables as soon as
possible, but not later than February 15, 2018. Continue
to use the 2017 withholding tables until you implement
the 2018 withholding tables

[fescuerescue]

12. I'm actually quite surprised

This thread induced me to look it up and I see that the tax tables were published today. https://www.irs.gov/pub/irs-pdf/n1036.pdf

According to the IRS document, employers have until Feb 15 to implement the new tables. Until then, the 2017 rates are in effect.


I did the math and it looks like my Fed withholding will go down 19% which is more than I would have expected.

No idea what that means at the end of the year though, lost deductions are figured in.

[MiniMe]

13. It takes time for them to revise the tax tables

The IRS has to come up with them, and then they have to be programmed into payroll systems. It doesn't mean anything though, you may owe it back at the end of the year.