1. Get back your phone tax
Thanks to the recent repeal of a 3 percent long-distance excise telephone tax, you have a refund coming to you on your 2006 tax return whether you itemize or not.
The one-time refund covers the 3 percent tax that you've paid from March 1, 2003 to July 31, 2006. If you don't feel like combing through old bills to tally your total, the IRS will let you claim a standard amount based on your exemptions:
1 exemption: $30 refund
2 exemptions; $40 refund
3 exemptions: $50 refund
4 or more: $60 refund
(If you opt for the standard amount, claim it on line 71 on the 1040. If you want to do the calculations yourself, fill out Form 8913.)
Thanks to the recent repeal of a 3 percent long-distance excise telephone tax, you have a refund coming to you on your 2006 tax return whether you itemize or not.
The one-time refund covers the 3 percent tax that you've paid from March 1, 2003 to July 31, 2006. If you don't feel like combing through old bills to tally your total, the IRS will let you claim a standard amount based on your exemptions:
1 exemption: $30 refund
2 exemptions; $40 refund
3 exemptions: $50 refund
4 or more: $60 refund
(If you opt for the standard amount, claim it on line 71 on the 1040. If you want to do the calculations yourself, fill out Form 8913.)
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