Telephone Excise Tax Refund

The IRS recently announced that anyone who paid the 3% Federal telephone excise tax on long-distance telephone service after February 28, 2003 and before August 1, 2006, is entitled to a refund of the tax. Individual taxpayers may avoid the complicated task of computing the amount of federal telephone excise tax that was paid since February 28, 2003, by simply electing to claim a standard refund amount allowed by the IRS on their 2006 income tax return. The standard amounts are: $30 if you claim one personal exemption, $40 if you claim two exemptions, $50 if you claim three exemptions, and $60 if you claim four or more exemptions.

 

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