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Don’t Miss Out on this One Time Opportunity for a Federal Excise Tax Refund The Michael Group will help you get all that you’re entitled to The United States Treasury Department has announced that it will no longer collect a 3% federal excise tax on long distance and wireless calls and will refund/credit approximately $15 billion to taxpayers. This is a one time opportunity. Phone companies and cellular carriers must stop billing for the tax on Aug. 1, 2006. Individuals and businesses can file for a refund/credit on their 2006 tax returns for excise taxes paid on long distance and wireless calls since March 1, 2003. Individuals who don't have phone bill records can seek a standard refund (“Safe Harbor”) that has yet to be determined. Callers will still pay a 3% excise tax on local phone calls. But that tax will no longer be levied on services that don't distinguish local calls, such as cellular, all-distance landline plans and Internet based offerings. Customers with those services can seek a refund/credit of their full excise tax payments. Entities other than individual taxpayers may request only the actual amount of tax paid during the relevant period, and will not be allowed to claim the Safe Harbor amount. This means a company will be required to provide documented proof of the exact amount of excise tax being claimed for refund/credit. |
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