Tax Law Allows You to Keep More of What You Earn

Press Release

Congressman Fitzpatrick released the following statement regarding the Treasury Department's recent release of new withholding tables in conjunction with the new tax reform law:

"Tax reform was always about growing our economy and increasing take-home pay for hardworking Americans. In the weeks since being signed into law, we've already seen over $1.5T in economic investment by companies and, as early as next month, folks will see more of their hard-earned money in their paychecks."

Last week, the Internal Revenue Service released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps that IRS will take to help improve the accuracy of withholding following major changes made by the new tax law. Many employees will begin to see increases in their paychecks to reflect the new law in February. The time it will take for employees to see the changes in their paychecks will vary depending on how quickly the new tables are implemented by their employers and how often they are paid -- generally weekly, biweekly or monthly.

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