When the new tax laws were enacted, the government decided to change the tax tables that employees withholdings are based on to reflect the new tax rates. Many people received more in their net pay due to the fact that their federal tax withholdings were reduced.
Confusing? Tax preparer and accountant Paul Federici, at Paul L. Federici and Associates, puts all this in perspective – what has happened and how it affects you and your tax preparation this season.
You will also hear some useful tips and advice!