US refundable tax credit.
By tammyr
@tammyr (5945)
Etowah, Tennessee
January 8, 2007 11:00pm CST
The us government has passed a refundable tax credit.(meaning you get the excess back, much as the earned income credit.)
It is called the Telephone Tax Credit. They are refunding money paid to the Federal Excise Tax on long-distance phone services after Feb.28th 2003.
It is not much, but it is money they owe us!
You may be eligible to recieve $ 30 for a person filing a tax return with 1 exemption
$40 for two exemptoins
$50 for three exemptions
$60 for four or more exemptions.
Or
you may fill out a form to claim actual exspeses
i just wanted to get the word out because you may be eligible to claim this refund even if you do not file taxes. You will have to file form 1040-EZ-T if you do not file a return this year.
Ask your tax preparer about this refund if he/she does not mention it.
If you file your own taxes, be sure to fill this in on the payment section of your form.
More info may be found on the I.R.S. website
www.irs.com or
www.irs.gov
Either way check it out.
Also check to see if there is a AARP tax aide site near you. They are a program that ofers free tax help and filing for senior and low income people.
1 person likes this
1 response
@villageanne (8553)
• United States
26 Jan 07
Do you prepare taxes professionally? I had heard about this but I still dont totally understand it. Most people have a phone so most people will be able to file for this little bit extra.
@tammyr (5945)
• Etowah, Tennessee
26 Jan 07
Yes most people will qualify. You must have had long distance, or bundled phone service, and not had a refund from that company. Cell phones also charged this excise tax and are included.
I do prepare taxes. I volunteer forAARP Tax cunseling for the elderly. We prepare and file for the elderly and lower income. There are sites all over the U.S. To find a site near you, call 1-888-AARPNOW.
I do not recieve any money for this, but the rewards are many!
have a nice day



