See Munchkin said they were working on this!
Will this fuck up my withholding like during George HW’s economic jumpstart program?
This is Donald’s economic jackoff program.
In theory, it should not.
This is a crew, however, that couldn’t run a one-car funeral, so who knows?
Probably not. However, the GOP has been starving and browbeating the IRS for a long time, and the tax law passed very late in the calendar year. I’d take a closer look at withholding amounts if:
– there is a substantial change that you can’t attribute to a specific change in the tax law
– you are substantially affected by large changes made in the tax law (e.g. you pay combined state/local taxes well over $10k, you have an enormous mortgage, you have a mortgage on a vacation home, you have a large home equity loan, you have multiple non-minor dependents in your household, etc.)
Because some employees will receive two months or more of pay before employers must use the new tables, it may be important to determine whether your employer will do a one-time makeup to correct for the outdated withholding, will simply shift to the new tables without correcting earlier amounts. The latter seems the most likely to me, and might even be the only option available to employers.