Free Republic

Your Paycheck Could Increase Very Soon -- Here’s How Much You Can Expect New IRS federal tax-withholding guidelines should give millions of Americans higher paychecks in 2018. Matthew Frankel Jan 12, 2018 The Treasury Department recently released new withholding tables based on the recently passed tax-reform bill. These tell employers how much to withhold from their employees' paychecks, and 90% of workers should see an increase when the new guidelines are implemented. Here's what this means, when you should expect the change to affect your paycheck, and how much of an increase you should expect. New IRS federal tax-withholding guidelines...

Well, when you’re backed into a corner, there really is nowhere to go. That’s where the Democrats are on this tax bill. Even after they shut down the government over illegal aliens, companies continued to signal their intention to dole out bonuses to their workers. In all, over 250 companies have given out bonuses to over three million workers. Bonuses have ranged from $1,000 to $3,000 depending on the company. The tax plan has become more popular as well. So, what do Democrats do now? Well, just marginalize $1,000+ bonuses as “crumbs.”Rep. Nancy Pelosi (D-CA) has done it, with Rep....

The companies have credited the tax changes for plans to offer bonuses of up to $3,000, increases in retirement plans, wage hikes and even adoption benefits. The tax watchdog group Americans for Tax Reform, headed by Grover Norquist, has been keeping the most updated list of companies offering benefits and told Secrets that it had crossed the 250 mark. ....What’s more, many more companies are offering employee benefits but are just now passing along their information

The establishment media have saved Democrats from embarrassment by refusing to cover their struggling attempts to explain away the positive economic effects the Republican tax bill delivered for the working class. House Minority Leader Nancy Pelosi and other leading Democrats predicted the tax bill would be a disaster for the working class — “Armageddon” is how Pelosi described it — only to see more than three million American workers receive bonuses and pay raises as a result of the GOP tax cuts. Additionally, 90 percent of workers are expected to see an increase in take-home pay in 2018. Pelosi, one...

FedEx joins the growing list of companies who are celebrating the GOP Tax Cuts and Jobs Act by sharing the profits with employees, and investing in America. Today, FedEx announced that it will invest over $3.2 billion in bonuses, wage increases, employee benefits, and new jobs. The official announcement states that FedEx will: "Over $200 million in increased compensation, about two-thirds of which will go to hourly team members by advancing 2018 annual pay increases by six months to April 1st from the normal October date. The remainder will fund increases in performance- based incentive plans for salaried personnel. A...

Legislation that first surfaced in California to give taxpayers a way to avoid the new cap on state and local tax (SALT) deductions by making charitable donations has popped up in four more states so far, with others reviewing alternative methods. Changes to the U.S. tax system signed into law by President Donald Trump in December have sparked a furious search in states with high income and property taxes for loopholes to help residents replicate the benefits taken away by the $10,000 cap on federal SALT deductions.

Starbucks will provide paid sick time to its employees nationwide and give its 150,000 hourly and salaried U.S. workers another wage hike in April, just three months after its regular January pay increase, the company is announcing Wednesday. “Everyone is getting a raise — the level they get depends on the region and the cost of living,” said spokesman Reggie Borges. Many U.S. companies have announced bonuses or wage increases since Congress last month reduced the corporate income tax to 21 percent from 35 percent. “For us the change in U.S. tax law has given us a chance to accelerate some...

Chief executive officer and chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City. Disney giving 125,000 employees $1,000 cash bonuses 1 Hour Ago | 00:44 Disney announced Tuesday it will pay over 125,000 employees a one-time cash bonus of $1,000, as well as make a new $50 million investment into education program for employees. "We are directing approximately $125 million to our cast members and employees across the country and making higher education more accessible with the...

Top chief executives in Davos are heaping praise on changes to the United States tax code pushed through by President Trump. The consensus at the World Economic Forum, which kicked off on Tuesday, is that the tax overhaul will boost U.S. growth and increase investment. "There are companies all around the world who are looking at the U.S. now and saying, 'This is the place to be in the developed world,' " said Blackstone (BX) co-founder Stephen Schwarzman, who chaired Trump's economic advisory panel until it was dissolved in August after a series of resignations. "There are going to be...

The United States is projected to grow 2.7 percent in 2018 as President Trump’s tax cuts boost growth, the International Monetary Fund said in a new report Monday, delivering more positive economic news as the president passes his one-year mark in the White House. But deep inequality remains in the country and the IMF does not expect the growth to last long. “We certainly should feel encouraged by the strengthened growth, but we should not feel satisfied. There are still too many people who are left out of that recovery and acceleration," said Christine Lagarde, head of the IMF on...

It also said that economic activity in Europe and Asia was surprisingly stronger than expected last year, and global growth in 2017 was now estimated to have reached 3.7 percent, 0.1 percentage point higher than the Fund projected in October. “The U.S. tax policy changes are expected to stimulate activity, with the short-term impact in the United States mostly driven by the investment response to the corporate income tax cuts,” the IMF said in the update, which was released on the sidelines of the World Economic Forum in Davos, Switzerland. “The effect on the U.S. growth is estimated to be...

If you're a Republican Trump supporter, the last few months have offered little in the way of positive polling news.  The last few days, however, have offered several glimmers of hope, all of which are linked to the robust economy.  We've been covering the drumbeat of upbeat economic news -- from low unemployment, to widespread optimism, to strong growth, to a booming stock market.  Here's a new piece of the larger puzzle, via the Washington Examiner: New applications for unemployment insurance benefits plunged by 41,000 to 220,000 in the second week of 2018, the Labor Department reported Thursday, the lowest level...

Associated Press Apple CEO Tim Cook said in a recent interview that President Trump’s tax plan would result in a faster-growing economy and greater job creation. In an interview with ABC News, Cook discussed a number of recent announcements by Apple, including their plan to invest $350 billion in the U.S. economy over the next five years and how President Trump’s tax plan will help the U.S. economy. Cook refused to “take a position” on how the new tax plan will affect individual Americans but commented on the corporate tax saying, “I do believe the corporate side will result in...

Following Apple's announcement of plans to repatriate a chunk of its overseas cash to infuse some $350 billion into the U.S. economy over the next five years, CEO Tim Cook took part in an interview addressing the company's investment strategy, the iPhone slowdown controversy and more. Speaking with ABC News' "World News Tonight with David Muir," Cook discussed the intricacies of Apple's forthcoming investment, which will incur a foreign tax bill of $38 billion. Earlier on Wednesday, Apple foreshadowed a major shift in financial policy when it announced plans to repatriate a portion of its overseas cash hoard, a move...

Apple said it will "contribute" $350 billion in the US economy over the next 5 years. It will include the creation of 20,000 new jobs and a new campus. Apple expects tax repatriation payments of about $38 billion. Apple CEO Tim Cook (R) and Apple chief design officer Jonathan Ive (L) look at the new Apple iPhone X during an Apple special event at the Steve Jobs Theatre on the Apple Park campus on September 12, 2017 in Cupertino, California. Apple to create 20,000 jobs over the next 5 years 36 Mins Ago | 01:21 Apple on Wednesday made a...

GOP may increase IRS’s budget © Getty Images Republicans are weighing whether to increase the IRS’s funding so that the agency has more money to implement the new tax-cut law. GOP lawmakers were highly critical of the agency during the Obama administration, but now want to make sure that their signature legislative achievement is carried out effectively. Treasury Secretary Steven Mnuchin said Friday that the administration is talking to Congress about providing the IRS with more money for implementation purposes. And GOP lawmakers have expressed an openness to a funding increase.

WASHINGTON - A loophole in the new U.S. tax law could allow multinational corporations like Apple Inc to avoid paying billions of dollars in taxes on profits stashed overseas, according to experts. Stemming from a Republican overhaul of international business taxes, the loophole involves the tax rates - 15.5 percent or 8 percent - that companies must pay on $2.6 trillion in profits they are holding abroad. By manipulating their foreign cash positions, a determining factor under the new law, a U.S. multinational could potentially save money by shifting profits to the lower rate from the higher one, according to...

House Minority Leader Nancy Pelosi (D., Calif.) on Thursday continued to slam the recently passed Republican tax reform bill, calling the wage increases and bonuses "crumbs" during her weekly press briefing. Walmart was the most recent company to announce a wage increase and bonuses as a result of the sweeping legislation, which included a slashing of the corporate tax rate from 35 to 21 percent. "A number of companies are attributing the tax bill for being able to give higher wages to their employees as well as being able to give a number of bonuses to their employees. How do...

Further to my post earlier today about how the corporate tax cut is extending benefits immediately to workers and consumers, Yahoo finance has put together a rundown of the 81 companies that have announced bonuses or new employee benefits because of the tax change:

. From Walmart Corporate Blog: We’ve got some really good news to share today. As you know, the President and Congress have approved a lower business tax rate. Given these changes, we have an opportunity to accelerate a few pieces of our investment plan. We plan to continue investing in you, in our customers through lower prices, and in our future--especially in technology to help improve your jobs and the experience for our customers. So, we’re pleased to tell you that we’re raising our starting wage to $11 an hour for Walmart U.S., Sam’s Club, Supply Chain, eCommerce and Home...