The IRS says the Telephone Excise Tax Refund (TETR) will be the most wide-reaching refund in IRS history -Â more than 160 million filers may request it.
What Is The Telephone Excise Tax Refund?
It is a one-time payment available on your 2006 federal income tax return. It is designed to refund previously collected long distance telephone taxes. Individuals, businesses and tax-exempt organizations are eligible to request it.
Individual Refund Claims
Taxpayers have 2Â choices
- Claim a standard refund amount between $30 and $60, based on the total number of exemptions claimed on their 2006 tax return. The benefit of this option is that you don’t need to locate old phone bills (who keeps them?).
- If you can locate those bills you can use the actual amount.
For option 1 the standard refund amount, there is an extra line on your tax returns for the refund.
For option 2 where you have the old phone bills, you can figure the refund using the actual amount of tax paid. In this case you need to fill out Form 8913, Credit for Federal Telephone Excise Tax Paid, and attach it to your return.
- If you are claiming the standard amount (no phone bills)Â use the new Form 1040EZ-T, Request for Refund of Federal Telephone Excise Tax.
- Where you have the old phone bills and are claiming the actual amount, attach Form 8913 to Form 1040EZ-T. Some companies offer free e-filing of Form 1040EZ-T.
Find more 2006 tax refund news at http://taxassistonline.com/wordpress
It might seem hard to believe, but the IRS has unclaimed refunds for 95,746 taxpayers because their checks could not be delivered!
The average refund payment is $963 for each of the 95,746 taxpayers (worth a total of $92.2 million!) whose refund checks have been returned to the Internal Revenue Service as undeliverable, because a taxpayer has moved without notifying the IRS or Postal Service of a change of address.
The checks can be claimed as soon as their taxpayer owners update their addresses with the IRS. In some cases, a taxpayer has more than one check waiting.
If you think you are missing your check, the IRS is working hard to make it easier than ever for taxpayers to update their information and claim their refunds by using the “Where’s My Refund?” feature on the home page of the IRS.gov Web site.
To use the feature and find out the status of your refund(s), enter your Social Security number, filing status (such as single or married filing jointly) and the refund amount shown on the your 2005 tax return.
When the information is submitted, “Where’s My Refund?†will display the status of a refund and, in some cases, provide instructions on how to resolve potential account issues.
Taxpayers can also access a telephone version of “Where’s My Refund?†by calling 1-800-829-1954.
Find information to help you get a tax refund
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