After the passage of Tax Cuts and Jobs Act (TCJA), the IRS encouraged
taxpayers to update their withholdings, but few did. More than halfway
through 2018, after the law took effect, the Government Accountability
Office (GAO) warned that
more Americans would owe money to the IRS under the new law while those
receiving refunds would decrease. In the end, many Americans saw modest
increases in their paychecks throughout the year, but didn’t notice.
Publisher: Yahoo Finance | Author: Kristin Myers