Sunday, August 14, 2011

With the Economic stimulus tax rebate checks, what if your tax liability is $1? Will your rebate only be $1??

I heard you get your tax liability back, maximum of $300 for single filers...I know if you have no tax liability (line 46 on 1040 is 0) then you get $300 anyways...but what if your liability is tiny, lets say a buck..Would you get "bumped" up to the $300 like the folks with no tax liability, or are you stuck with a measly $1 rebate check?? Just wondering, since I saw the article on YAHOO homepage today and it didn't answer that particular scenario.

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