Hi Folks, A SPECIAL ONE TIME TAX CREDIT ON YOUR 2006 TAX RETURN (abbreviated version) 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.What is this all about? Well the federal excise tax has been charge to you on your phone bill for years. It is an old tax that was assessed on your toll calls based on how far the call was being made and how much time you talked on that call.The IRS has now conceded this is obsolete.. Phone companies have been given notice to stop assessing the federal excise tax as of Aug 30, 2006. You will most likely see the tax on your September cutoff statement, but it s...
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