Saturday, September 02, 2006

IRS Telephone Tax Refund

On May 25, 2006, the IRS announced that it would be refunding taxes paid on long-distance services paid after February 28, 2003 and before August 1, 2006. This is a refund of an excise tax that was instituted during the Spanish-American War. The refund is available to all taxpayers who paid this tax (individuals, businesses, and non-profits). It appeared that it would be a difficult task for many individuals, as they may not have saved their bills; that is, until a few days ago.

On August 31, 2006, the IRS announced Standard Amounts for Telephone Tax Refunds. Essentially, this change allows individuals to claim a standard amount of $30 for the telephone tax refund, without itemizing or providing documentation. You can claim $40 if you have two exemptions, $50 if you have three exemptions, and $60 if you have four or more exemptions.

There will be one line to claim this deduction on the 2006 tax forms. And remember, this will only be for 2006. If you have any questions, you can email the IRS at Telephone.Tax@irs.gov, or you can visit the Telephone Tax Refund Questions and Answers page.

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