American Households Seeing More Benefits from Trump Tax Cuts
Americans who waited until the last day to pay their taxes online got a surprise: The IRS website to make payments and access other Key services is down, it crashed.
The IRS still expects Americans to pay their taxes but US Treasury Secretary Steve Mnuchin says extensions will be granted to those impacted when the site is up again.
The IRS said in a statement that “certain IRS systems are experiencing technical difficulties.” It also said that at this point, the problem appeared to be a hardware issue.
President Trump’s economic advisor Larry Kudlow said he expects Americans will see more benefits from the new tax law as the year progresses.
“We’re just getting started,” Mr. Kudlow told reporters.
“You’ve got child tax credits you’re doubling, the doubling of the standard deduction, you’ve got lower income tax rates, you’ve got lower business tax rates,” he said.
Businesses have been the biggest beneficiary so far because the lower corporate tax rate is allowing them to invest, Mr. Kudlow declared.
“The biggest winner right now is business investment,” he said.
“That is huge. Equipment, technology, software and so forth, factories. That’s where the real nuts and bolts of this thing, the incentives at a lower business tax rate, both large and small.”
To be sure, President Trump took to Twitter to tout the economy and his sweeping tax cuts.
“So many people are seeing the benefits of the Tax Cut Bill. Everyone is talking, really nice to see!” President Trump tweeted