* * * * *
A one time tax break
> When it comes time to prepare and file your 2006 tax return, make sure you
> don't overlook the “federal excise tax refund credit.” You claim the credit
> on line 71 of your form 1040. A similar line will be available if you file
> the short form 1040A. If you have family or friends who no longer file a
> tax return AND they have their own land phone in their home and have been
> paying a phone bill for years, make sure they know about this form 1040EZ-
> T.
>
> What is this all about? Well the federal excise tax has been charged to you
> on your phone bill for years. It is an old tax tha t was assessed on your
> toll calls based on how far the call was being made and how much time you
> talked on that call. When phone companies began to offer flat fee phone
> service, challenges to the excise tax ended up in federal courts in several
> districts of the country. The challenges pointed out that flat fee/rate
> phone service had nothing to do with the distance and the length of the
> phone call. Therefore, the excise tax should/could not be assessed.
>
Via Shadesong [1], “A Geek in Beantown: Special One Time Tax Credit on 2006
Tax Return for Excise Tax [2]”
Not only will I have to remember this for April 15^th, but I'll also need to
check my cell phone bill—I seem to recall some rather suspicious looking
taxes on that.
[1]
http://shadesong.livejournal.com/3089752.html
[2]
http://jasra.livejournal.com/328557.html
Email author at
[email protected]
