By Valerie S. Johnson
Here’s a once-in-a-lifetime tax refund that millions of taxpayers can claim for 2006: the Telephone Excise Tax Refund. If you paid federal excise taxes on your long distance or bundled services which were billed after Feb. 28, 2003 and before August 1, 2006, you may be entitled to a one-time refund. “Bundled” services are local and long distance services provided under a single plan where the local telephone service charges are not separated from other services, and may include Voice over Internet Protocol (VoIP), cellular, and landline services.
Since most people won’t have 41 months of old phone bills handy, the IRS provides a standard refund amount ranging from $30 to $60, based on the number of exemptions you claim on your 2006 return. Look for line 71 on your Form 1040, “Credit for federal telephone excise tax paid” and the accompanying instructions.
If you hoarded the old bills, you may calculate how much excise tax you actually paid and request that amount by filing an extra form with your 2006 income tax return.
If you qualify for the refund, you can request it even if (a) you don’t itemize deductions, (b) you are not entitled to an income tax refund, or (c) you don’t have to file an income tax return. The Treasury Department estimates that the total amount refunded to individual taxpayers will be $10 billion. Full details are available at the
IRS website.
Free $30 - $60 Refund Courtesy Of The IRS
Re: Free $30 - $60 Refund Courtesy Of The IRS
