Tax Refunds For Long Distance Excise Tax
If you are a heavy user of long distance telephone services you have a chance to recoup the excise taxes you paid on long distance service from March of 2003 to July of 2006 when you file your income taxes this year.
The levy was originally imposed to pay for the Spanish-American War.
Businesses and Self employed individuals with incomes over $25,000 can request a refund based on actual charges (if you have the records) or a formula approved by the IRS. Regardless of the method used to calculate the request, businesses must complete new Form 8913, Credit for Federal Telephone Excise Tax Paid, and attach it to their returns to claim the refund.
For individuals there is a standard deduction of $30 to $60 or they can elect to fill out the form 8913. Either way it is something to be happy about on April 15.
To read more from the IRS and download the form 8913 you can go here.
The levy was originally imposed to pay for the Spanish-American War.
Businesses and Self employed individuals with incomes over $25,000 can request a refund based on actual charges (if you have the records) or a formula approved by the IRS. Regardless of the method used to calculate the request, businesses must complete new Form 8913, Credit for Federal Telephone Excise Tax Paid, and attach it to their returns to claim the refund.
For individuals there is a standard deduction of $30 to $60 or they can elect to fill out the form 8913. Either way it is something to be happy about on April 15.
To read more from the IRS and download the form 8913 you can go here.
Labels: income tax
posted by Joe Taylor at 4:16 PM
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