Employees who are eagerly awaiting the extra money generated from the recent tax bill could expect an increase in their paychecks as soon as February.
Since the tax reform bill was signed into law on Dec. 22, companies are still waiting for the IRS to issue their guidance on how much of a worker’s salary to withhold for taxes. The earliest the majority of employees could receive an increase is February, said Valrie (spelled with one “e”) Chambers, an associate professor of taxation and accounting at Stetson University in DeLand, Fla.
The average amount that employees will receive is $70 a month, depending on their salary.
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