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in Small Business Tax

Did you miss or forget the telephone-tax credit on your return? Shame on you, but you’re not alone.

Over 10 million early filers did not request available refunds, including about half of the returns filed by tax pro preparers. (IRS Announcement 2007-16) File an amended return (Form 1040X) to claim a standard credit. Most cellphone users also qualify for the excise-tax refund. But wait until you cash your check if you’re already due a refund.

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