Update: We have a winner! It’s Travis! For the answer, see the comments!
Our next tax trivia question for the giveaway is:
In 2008, the IRS began releasing rebate checks as part of President Bush’s stimulus package. The original version of the stimulus capped the number of children who could be claimed for purposes of the rebate checks at 3. When the package was finalized, what was the cap for the number of children who could be claimed for purposes of the rebate checks?
The first correct answer wins free CCH tax prep software.
Remember that you have to comment on the actual post, not on email, Twitter or Facebook, in order to win (though feel free to comment that way for fun). You can read the rules for the giveaway and more about the prizes here.
What’s your guess?
I thought that was 2003 when rebates were based on the child credit. 2001, 2008 were based on prior year’s return.
2008 was based on the prior year’s return but taxpayers could receive additional amounts based upon the number of qualifying children on the return.
No cap
I believe the answer is 2 children.
Parents and anyone else eligible for a stimulus payment will also receive an additional $300 for each qualifying child. To qualify, a child must be eligible under the Child Tax Credit and have a valid Social Security number.
No maximum on number of children