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Is the tax rebate based on 2006 income or 2007?

April 26, 2017based Business Finance income India rebate tax taxes

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Is the tax rebate based on 2006 income or 2007?

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It will be based on 2006 federal tax return because the bill is expected to be passed in February. They anticipate the Checks to be mailed in May at the latest June. So since a majority of people wait until April 15th, they will not have efficient time to review the 2007 tax returns.