After the Government Accountability Office (GAO) assessed the impact of the Tax Cuts and Jobs Act provisions and the withholding allowances established by the IRS, has estimated 21% of taxpayers will under withhold for 2018, up from 18% in 2017.
This means that 21% of taxpayers will owe tax when filing their return in 2019. This also means that for taxpayers who normally get a large refund will get less of a refund than they were expecting. Be advised that under withholding can be a real financial hardship, do a Paycheck Checkup.
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