IRS Issues New Withholding Tables: $10 More Pay Per Week

Employers must start using these tables by April 1, but may do so earlier. As Kay Bell notes, this works out to an extra $10 per week in take-home pay for most taxpayers.

Higher income taxpayers will not see an increase in their take-home pay, as the credit phases outb at $75,000 - $95,000 for single taxpayers and $150,000 - $190,000 for married couples.

For a pessimistic view of the value of the extra $10 per week, see Rick Santeli's now-famous rant on CNBC.

By TaxProf Blog
Associate Dean of Faculty
Charles Hartsock Professor of Law
Univ. of Cincinnati College of Law