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
- add to tip'd - stumble it - digg it - 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:
Great deals...
Readers’ choice...
Recent articles...
- Did Congress Make the Homebuyer Tax Credit Retroactive?
- Congress Extends $8000 Homebuyer Tax Credit, Adds New $6500 Credit
- Lending Club Update - October 2009 Performance
- How Much to Budget for Car Maintenance?
- Series I Savings Bonds Now Paying 3.36%
- Use Weight Loss Strategies to Get Out of Debt
- Weekly Roundup - Disney Shanghai Edition
- How to Save Money on Vacations
- Most and Least Reliable Cars - 2009 Edition
- Get 100 Free Trades from OptionsHouse Brokerage
Recent comments...
- Penny: I am about to purchase a new home.. which will be my new residence...
- APRIL DAYS: I FOR ONE HOPE THAT THE FIRST TIME HOMEOWNERS TAX CREDIT IS EXTENDED BECAUSE...
- JB: I drive a 1999 car and save $60 a month for car repairs, oil...
- Greta: My significant other and I bought a house in February 2009. My boyfriend...
- Jay: Don't forget nCleaner 2nd for turning off widows firewall and windows defender...also use the...
- Bryan: @Doug - you said it... if you simply delayed the closing, it would have...
- Sympathetic Dish TSR: @ Bonnie: Is your HD tv a Flatscreen LCD style? If so then a...
- John DeFlumeri Jr: Thanks for explaining the tax credit. Too bad for those who purchase in...
Most talked about...
- Dave Ramsey is Bad at Math
- $8,000 Homebuyer Tax Credit
- Dish Network Customer Service SUCKS
- How to Claim the First-Time Homebuyer Tax Credit
- $15,000 Homebuyer Tax Credit
- Reduced Credit Limits? Share Your Experience
- Would the "Fair Tax" Gut the Economy?
- Tax Stimulus Rebate Payments to Start Early
- Pay Off Mortgage Early? Or Invest?
- The Best Online Savings Accounts (Updated!)
- Life's Too Short to Drink Cheap Beer
- $7500 First Time Homebuyer Tax Credit