IRS Sets Guidelines on Refunds For Discontinued Telephone Tax

IRS SETS GUIDELINES ON REFUNDS FOR DISCONTINUED TELEPHONE TAX
[SOURCE: Wall Street Journal, AUTHOR: Robert Guy Matthews robertguy.matthews@wsj.com]
The Internal Revenue Service said it will refund taxpayers up to $60 next year to reimburse them for the now-defunct long-distance telephone tax, a move expected to cost the government about $10 billion. Taxpayers need no proof they paid the tax and can claim a refund on their 2006 federal income-tax returns. Refunds will be subtracted from the bills of taxpayers who wind up owing the government or added to the refunds for those who overpaid their taxes. Businesses, which have paid a total of $3 billion in long-distance taxes since February 2003 -- the date back to which the refunds are being set -- must document the charges to collect refunds but aren't subject to the $60 maximum. Individuals who think they are being shortchanged can figure out the amount owed on their own and can collect what they document above $60. But it could be a tedious and expensive process for people who don't keep their bills going back to Feb. 28, 2003, the earliest date eligible for the refund. Phone companies have said that they will charge customers to search the data, if they have it at all.
http://online.wsj.com/article/SB115707012957651270.html?mod=todays_us_pa...
(requires subscription)

* Call It the Teddy Roosevelt Refund
http://www.washingtonpost.com/wp-dyn/content/article/2006/08/31/AR200608...

* IRS Sets Up Phone-Tax Refund
http://www.latimes.com/business/printedition/la-fi-phonetax1sep01,1,4824...