Tax cut bill may impact taxpayers during 2014 tax season - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

Tax cut bill may impact taxpayers during 2014 tax season


Eau Claire (WQOW) - You may have recently seen a slight increase in your last paycheck but that may come with a price during next year's tax season.

Last month, Gov. Scott Walker signed a tax bill that took into effect on April 1. The bill will help make adjustments to the state's withholding tax. That means, tax payers will have less state tax taken out of their paychecks. Stephanie Lauterbach, the owner of Jackson Hewitt Tax Service on South Hastings Way, said this change may impact taxpayers' during next year's tax season.

"So with Walker's passing of them changing the withholding charts, people are going to be getting more money in their paychecks throughout the year," Lauterbach said. "However, when they go to file for their tax return for 2014, their refunds are going to be lower in comparison to 2013. So they want to be careful because there may be some taxpayers out there that may end up owing because of that."

Gov. Walker's bill will spend about $320 million to help make adjustments to the withholding tax break.

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