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Ring up telephone tax refunds

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in Small Business Tax

If you don’t like clutter, throw away those old telephone bills. The IRS has announced the standard amounts that individuals can use to claim refunds of the tax on longdistance charges (see 6/12/06 issue). The amounts — which people can claim on their 2006 returns — range from $30 to $60, based on the filer’s number of exemptions. (IRS News Release IR 2006-137) If you think you’ve paid more than $60 in long-distance tax between Feb. 28, 2003, and Aug. 1, 2006, you can still use old statements to substantiate your claim.

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