February 11, 2007 10:04 PM
Tax Reminder: Telephone Excise Tax Refund
Good to keep in mind you may get $30 or more refund from what the government illegally charged you in the last four years.
From MarketWatch:
There's one new perk that's available to just about everyone: The telephone excise tax refund. Taxpayers can figure their refund by using their telephone bills to calculate how much they paid in eligible excise tax between Feb. 28, 2003 and Aug. 1, 2006.
Or, taxpayers can claim a standard refund based on the number of personal exemptions they've paid ($30 for one exemption, $40 for two, $50 for three and $60 for four or more).
If you claim the actual amount of tax you paid, you'll need to file Form 8913. Otherwise, you can claim your refund on Form 1040. Taxpayers who aren't required to file a tax return can claim their telephone excise tax refund by using the new Form 1040EZ-T to claim a standard refund.
The key to this perk might be to take the easy way out. "A lot of preparers are worried about it because it won't be worth their time," Maton said.
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