Tax Cuts Glance
—Treasury Department to mail taxpayers checks beginning this summer: up to $300 for an individual, $500 for a single parent and $600 for a married couple. Actual amounts based on income tax liability and based on people who filed federal income tax returns this year.
—Rate cuts begin effective July 1, 2001.
—New 10 percent tax rate applies to first $6,000 of taxable income for single people, $12,000 for married couples filing jointly.