Tuesday, February 20, 2007

Credit for Federal Telephone Excise Tax Paid

Now I know why I kept all my old telephone bills :) The standard credit for a single filer for the Federal Telephone Excise Tax Refund is $30.00. I just computed my credit using my old bills and Excel (where I set up a spreadsheet to replicate Form 8913 and do all the summations and multiplications needed). My credit comes to $111.13. $81 is not bad for half an hour's work :) Most of the credit is due to tax I paid on bundled service. So if you have those old bills give them a quick check to see if you might exceed the standard credit and if it's looking good, do the computations.

1 comment:

Revanche said...

I'm still kicking myself over this one: I kept all my phone records until a year ago, and then decided that 4 years of records had to go to make room for new ones. *sigh* I have about a year's worth but I wonder how they plan to make you prove your estimated amount, since you're only required to physically have a "reasonable" amount of records to back your claim?