• Home
  • About
  • Services
  • Tools
  • Links
  • Contact
Location
800 S. Gay Street, Suite 1919
Knoxville, TN 37929
Phone
(865) 523-8700
Socialize
  • ,

Van Elkins and Associates

Menu
  • Home
  • About
    • Our Team
  • Services
    • Tax Services
    • Payroll Services
    • Accounting Services
    • Businesses Consulting
    • Individual Financial Consulting
    • Expert Testimony and Litigation Support
    • Business Valuation & Appraisal
  • Tools
  • Links
  • Contact

Treasury Announces End to Long-Distance Telephone Excise Tax

Tuesday, June 6th, 2006

Taxpayers will be able to apply for refunds on their 2006 tax forms, to be filed in 2007.

Key Facts Regarding Tax Refunds:

  • No immediate action is required by taxpayers.
  • Refunds will be a part of 2006 tax returns filed in 2007.
  • Refund claims will cover all excise tax paid on long-distance service over the last three years (time allowed given statute of limitations). Interest will be paid on refunds.
  • The IRS is working on a simplified method for individuals to use to claim a refund on their 2006 tax returns.
  • Refunds will not include tax paid on local telephone service, which was not involved in the litigation.
  • Originally established in 1898 as a “luxury” tax on wealthy Americans who owned telephones, the federal excise tax on telphone calls is not compatible with today’s modern information-age society.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Van Elkins and Associates

800 S. Gay Street, Suite 1919 Knoxville, TN 37929

  • Home
  • About
  • Financial Services
  • Tools
  • Links
  • Contact
  • Privacy Policy

All content Copyright © 2021, Van Elkins and Associates. Knoxville web design and hosting by Slamdot.