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In a simple word: no. I believe the rebate is acting like a refund and when a refund is due, it's usually applied to the any remaining balances first. However, TaxGirl is less sure of this statement.
So, the bottom line is the jury's still out. But I'd urge, as TaxGirl says, for you to ask your tax preparer.
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eHow Article: How to Would I Get My Refund If I Owe Taxes To The IRS?
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Meet Mark P Cussen, CFP, CMFC eHow’s Personal Finance Expert.