Government to Stop Collecting Long-Distance Telephone Tax
In case you haven’t heard, the Internal Revenue Service (IRS) has announced that it will stop collecting the federal excise tax on long-distance telephone service. This tax was first imposed in 1898 and is currently 3 percent of the charges billed for these services.
Taxpayers will be eligible to file for refunds of all excise tax they have paid on long-distance service billed to them after Feb. 28, 2003. Interest will be paid on these refunds.
Taxpayers will claim this refund on their 2006 tax returns. In order to minimize burden, the IRS expects to announce soon a simplified method that individuals may use.
“So taxpayers won’t have to spend time digging through old telephone bills, we’re designing a straightforward process that taxpayers may use when they file their tax returns next year,” said IRS Commissioner Mark W. Everson. “Claiming a refund will be simple and fair.”
Be sure you and your tax preparer remember to make this claim when filing your 2006 return.
Jacquelyn Lynn
Taxpayers will be eligible to file for refunds of all excise tax they have paid on long-distance service billed to them after Feb. 28, 2003. Interest will be paid on these refunds.
Taxpayers will claim this refund on their 2006 tax returns. In order to minimize burden, the IRS expects to announce soon a simplified method that individuals may use.
“So taxpayers won’t have to spend time digging through old telephone bills, we’re designing a straightforward process that taxpayers may use when they file their tax returns next year,” said IRS Commissioner Mark W. Everson. “Claiming a refund will be simple and fair.”
Be sure you and your tax preparer remember to make this claim when filing your 2006 return.
Jacquelyn Lynn
posted by Jacquelyn Lynn | 6:17 AM
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