Labor & Taxes
Cut in IRS withholding by half in November may mean smaller tax refund in 2027
IRS withholding tax rates will drop by half in November, including on the Christmas bonus. Experts suggest setting aside part of this temporary increase in net take-home pay because lower monthly deductions now can result in a smaller tax refund when filing returns in 2027.
Why it mattersIf you pay taxes in Portugal, your take-home pay will increase in November due to halved IRS withholdings, but you should expect a smaller tax refund when you settle accounts with Finanças in 2027.
CNN PortugalRead original ↗
