Most American workers may be pretty excited about the fact that the tax cuts passed by Congress in December 2017 will mean more money in their paychecks. However, a new report from Fox Business states that the withholding amounts for some workers could be incorrectly calculated and could lead to future tax problems.
According to the report, the IRS did not create new W-4 forms for the new tax code. For 2018, employers are using documents on file, which do not match the updated tax policies. Because of changes to personal exemptions, deductions and much more, this is likely to cause future headaches for taxpayers.
To find out what this could mean for you, read the entire report from Fox Business.
If you owe back taxes to the IRS, contact the experts at IRS Trouble Solvers® today!