If you haven’t already, you should be getting a fatter paycheck soon. That is if you’re among the 110 million families to benefit from the government’s economic stimulus plan.
The government says the average family will get about $800 more in take-home pay this year. A single person, $400.
To be sure you don’t end up paying some of the money back next year at tax time, you may want to take a few minutes to check your withholding.
The way the benefit works is that the Internal Revenue Service has issued new tax tables to employers, effective April 1. The tax tables reduce the amount of taxes withdrawn from your check, giving you a little more money to spend. For example, a single worker making $50,000 and who gets a biweekly check should see about $20 more each paycheck.
The Associated Press
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