Get Your Telephone Tax Refund

In case you haven’t heard, the 2006 tax year ushered in the most wide-reaching IRS refund of all time… The Telephone Excise Tax Refund. This is a one-time refund that is meant to make up for previously collected long distance phone taxes that have since been rolled back.

When you file your taxes this year, you’ll have a choice — take the standard refund (more below), or locate your old phone bills and claim the actual amount. In the case of the former, check the chart below for your refund amount. In the case of the latter, you’ll need to fill out Form 8913 (Credit for Federal Telephone Excise Tax Paid).

When it comes to claiming the standard deduction, qualified individuals are entitled to a $30-$60 refund, depending on the number of exemptions that they can claim. Here’s the breakdown:

1 exemption: $30 refund
2 exemptions: $40 refund
3 exemptions: $50 refund
4 or more exemptions: $60 refund

If you opt for the standard deduction, you can claim it on line 71 of Form 1040.

Published on February 21st, 2007 - Leave a Comment
Filed under: Taxes
email this article email this article - bookmark it

About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!

Related articles...

» Phone Tax Credit Refund Abuse
» HSBC Introduces Telephone Access Codes
» Carnivals – Week of 03/05/07
» Tax Refund Poll Results
» Getting a Refund? No Need to File on Time
» Money Poll #8: Tax Refunds
» The Best of February 2007
» IRS Tax Refund Phishing Scheme

Was this article useful? Please sign up to receive our content via e-mail:

You will receive only the daily updates, and can unsubscribe at anytime.

Comments (scroll down to add your own):

None so far - share your thoughts and be the first!

Leave a comment

Subscribe without commenting

  1. < $10,000
 

Disclaimer...

The terms of third-party offers referenced on this website are subject to change without notice. While we strive to maintain timely and accurate information, offer details may be out of date. Visitors should thus verify the terms of any such offers prior to participating in them. Please see our terms of service for additional details.