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Americans to See Possible Increase in Monthly Paychecks

Americans to See Possible Increase in Monthly Paychecks

KXXV reports that as the IRS implements a new tax plan, a bump in our paychecks could be a result.

According to the congressional budget office, employers will most likely hold an estimated amount of $10-$15 less from workers each month.

And numbers crunched by ADP show that a single filer making $57,000 annually could see a $60 increase in their monthly check, while taking one withholding allowance.

A single filer earning 162,000 a year can expect about $190 more in their monthly paycheck.

Joint filers getting paid bi-weekly who are making $61,000 a year could see a $40 increase each pay period.

But take-home pay depends on more than salary and allowances. State and local taxes, along with health deductions could account for any potential extra funds.

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