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Confusion and Chaos Ahead for New Tax Law

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“The most sweeping tax code overhaul in a generation will soon head to President Trump’s desk — and Republicans are enjoying a victory dance. Now comes the real-world turmoil,” Politico reports.

“America’s new tax system will go into effect in just 12 days, and payroll companies are bracing for confusion as they figure out new withholding rules that will affect millions of American paychecks.”

Walter Shapiro: “Trump has promised that the over-taxed IRS will issue new withholding schedules by February. But because all 150 million taxpayers subject to withholding will have to file new W-4 forms detailing their deductions, there exists the potential for a brief outburst of chaos reminiscent of the failed rollout of Obamacare.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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