Check Your Paycheck: You Probably Just Got a Surprise Pay Bump

Feb 03, 2018, 03:53 AM

Many Americans will likely see a bump in their paycheck this month as employers withhold less money to account for expected tax cuts.

New guidance about how much money employers should withhold for income taxes was released by the Department of the Treasury and the IRS on Jan. 11, after President Trump signed the $1.5 trillion tax overhaul plan into law. Employers were instructed to implement the new withholding rates by Feb.