Heartland Audio

Paycheck Withholding Taxes Could Climb 50 Percent for Some

September 9, 2010

Mike O'Toole of the American Payroll Association has a dire warning for the more than 100 million Americans who bring home a paycheck from which taxes are withheld: The amount of tax withheld from paychecks could soar starting January 1. It all depends on what happens with the "Bush" tax cuts that expire at the end of this year, as well as with tax credits that were granted as part of economic stimulus. O'Toole says It's possible some workers' paychecks would see 50 percent more tax withheld.