The IRS has Announced Updated Withholding Tables

The IRS has Announced Updated Withholding Tables

Washington, D.C. - Congressman Joe Wilson (R-SC) released the following statement after the IRS published their updated withholding tables for 2018.

"The Tax Cuts and Jobs Act has increased jobs and wages, and allowed businesses the opportunity to provide bonuses to millions of Americans. Now that the IRS has updated their withholding tables for 2018, Americans can see firsthand just how much of their own money they will be able to keep thanks to the GOP tax cuts. With the child tax credit increasing to $2,000 per child, and the standard deduction doubling to $12,000- which nearly 70% of tax filers use- I am grateful that families all across the Second Congressional District are seeing the benefits of this legislation."

You can find the updated withholding tables on the IRS website at https://www.irs.gov/

The IRS also introduced a withholding calculator that will allow you to calculate your estimated tax liability for 2018. You can find that calculator here: https://apps.irs.gov/app/withholdingcalculator/