According to USA Today, this year’s tax season will begin on January 28, and IRS officials said on Wednesday that it will waive most of the taxpayers’ fines withholding too little income tax last year because these taxpayers It is not certain how the actual tax reform of the Trump administration will affect them.
The Trump administration has stated that according to the Tax Reduction and Employment Act passed in 2017, 90% of taxpayers are expected to reduce their income tax. Many taxpayers have seen these benefits because employers withholding less money from their salaries.
But some people may have too little withholding. Some taxpayers, especially those who have already paid high state and local taxes, may face more tax owed than tax rebates in April.