Thursday, August 24, 2006

IRS to issue refund related to cell phone usage

Earlier this year the U.S. Treasury Department announced that it would no longer collect the 3% excise tax that, among other calls, was imposd on calls made on cellular telephones.  As a result, the Internal Revenue Service will be issuing refunds of the tax collected from taxpayers over the last three years.  Refunds will be paid in 2007 and can be claimed as part of filing the Form 1040.  Interest will be paid on the refund amount.

The IRS is presently working on a method for simplifying the refund process and the exact amount that each taxpayer will receive is not yet known.  For the official notice click here.


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