Target has finally posted their official stance on coupons online. You can view it here.
Target Stores Coupon Policy
Coupons are a great way to save even more when shopping with us, and it's easy to use them at our stores.
• Target accepts one manufacturer coupon and one Target coupon for the same item (unless prohibited)
• Super Target coupons can be used in any Target store if the store carries the item
• We gladly accept valid internet coupons
Because of the variety of coupons available to our guests, we do have some guidelines for how coupons can be redeemed at Target.
When accepting coupons, we use the following guidelines:
• We accept two kinds of coupons: Target-issued coupons and manufacturer-issued.
• We'll accept one Target coupon and one manufacturer coupon for the same item, unless either coupon prohibits it.
• Coupon amount may be reduced if it exceeds the value of the item after other discounts or coupons are applied.
• We can't give cash back if the face value of a coupon is greater than the purchase value of the item.
• We can't accept coupons from other retailers, or coupons for products not carried in our stores.
• All valid coupons should be presented to the cashier while you're checking out.
I would HIGHLY suggest printing this and keeping it in your coupon binder. I've had so many issues with Target cashiers -- I know this will come in handy very shortly.
(Thanks Deal Seeking Mom!)