Line 71 of the federal tax Form 1040 allows a credit of approximately $40.00 for federal telephone excise taxes paid. It's my understanding that telephone companies were not required to collect this tax but could have been asked by the federal government to pass these taxes on to the Treasury. I understand most, if not all, just collected the tax and used it. Regardless it just seems taxpayers have just been given a tax bill for the amount that is heing refunded. In other words we're not actually given this credit but the money is just taken out of one of our pockets and placed in another as long as we request this credit. True or not?
tax credit for federal excise taxes paid
Delicious
Digg
StumbleUpon
Propeller
Reddit
Magnoliacom
Newsvine
Furl
Facebook
Google
Yahoo
Icerocket
Post to Twitter
Like what you see? Go ahead and show your support! UCAN is a truly independent non-profit watchdog organization, dependent on grassroots donations like yours!
Utility Consumers' Action Network
(619) 696-6966 or file a complaint about a company online.
Terms & Conditions
UCAN.org is made available by the Utility Consumers' Action Network to assist you in becoming what you always knew you could be, a consumer ROCK STAR! We take no corporate money, and are beholden only to you, the consumer. As such, the site is here for educational, advocacy, and empowerment purposes, as well to to give you general information and a general understanding of the law. Just remember this site is NOT here to provide specific legal advice. By using this web site you of course understand that there is no attorney client relationship between you and the Web Site publisher, UCAN. The Web Site should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
That said, get to digging on the site, inform yourself, speak your mind, and earn Watchdog Bones! This is YOUR site, and we mean it. So comment on any of the content, discuss the latest issues in the forums, file a complaint on a company with the fraud squad, and generally cut loose.
See our Terms of Use, Privacy, and Copyright complaint policies as well as our Content Reuse Policy, Some Rights Reserved.
- Remember, if you have any questions about copyright law or need legal information regarding intellectual property, the internet, or new technologies, visit our affiliate New Media Rights at www.newmediarights.org. If you are in the San Diego region, you can also can apply to use our multimedia studio and equipment for free.
I don't know about you guys
I don't know about you guys but I am sick of taxes and credits, I prefer to stay away from line 71 of the federal tax and handle may current taxes as they are. I am even hoping for a tax relief law otherwise I'll have to handle the situation myself.
Even i am sick of my credit
Even i am sick of my credit cards,Their taxes are very expensive.Killing the normal people with their taxes
Ford
3% tax on long distance calls
The refund you are referring to is for the 3% federal Excise Tax on Long Distance calls. The Courts have ruled that the Federal Gov't was improperly collecting this tax which was first used to fund the Spanish America War. The following two IRS URL's explain the history and the process for getting the credit. The IRS estimates that 10 billion dollars will be refunded.
http://www.irs.gov/newsroom/article/0,,id=157706,00.html
http://www.irs.gov/newsroom/article/0,,id=161506,00.html
http://ucan.org/telecommunications/landline/3_reduction_for_long_distanc...
Post new comment