How the IRS may mess up your paycheck this year
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(FOX News) -- Beginning in February, Americans can expect to see tax reform changes reflected in their paychecks, now that the Internal Revenue Service (IRS) has unveiled its new withholding tables.
However, the new system, updated by the IRS and the U.S. Treasury Department in under one month, could leave more room for miscalculation where withholding amounts are concerned.
“I think there could [be slightly more room for error],” John Myett, director of government affairs at payroll processing firm ADP (ADP), told FOX Business. “For more complex filers, they really want to take a closer look at what’s being withheld.”
The issue comes in with paperwork. Because the new tax law was passed in late December, the IRS did not have enough time to create, disseminate and collect new W-4 forms, something Myett said would have been a “herculean task.”
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