About 90 percent of U.S. workers will see bigger paychecks starting in February thanks to the new tax cuts, Treasury Secretary Steven T. Mnuchin said Thursday.
Mr. Mnuchin said Treasury and the IRS are releasing new withholding tables for taxpayers to adjust to the lower tax rates, and will release a new tax calculator soon to that taxpayers can figure out their correct amount of exemptions and withholdings.
He also said taxpayers can expect new W-4 forms for 2019 to be released later this year.
Mr. Mnuchin also praised Walmart as the latest company to announce it is increasing wages for workers and handing out bonuses, as a result of the tax cuts.
“We’ve been talking wth lots of companies for a long time. We’re thrilled with how they’re responding,” he said.
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