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Not long ago, I posted a question about the remainder of 2001 after we receive the rebate. I've read posts on several boards recently that have now confused me about the answer I received.

Here goes: Starting on July 1, 2001, will the income tax taken out be less due to the tax changes OR will we have to wait until we file for the decrease?

My understanding from reading the other posts is there will be a 1/2% difference (from 28 to 27 1/2%) for the remainder of the year for that tax bracket, and after this year that will be a full 1% decrease.

Please respond if you know the correct information.

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