Phone Bill Tax Credit, One-Time Only
Do you have a phone bill? Chances are, you do - and if you do, you can claim a tax credit on this year’s tax form. Turns out there’s an old tax that we’ve all been paying on our phone bill every month, and the Treasury Department has decided it’s no longer valid. So first of all, the phone company’s going to stop charging that tax. Yay! Even better, the government is giving a tax refund. It’s based on how many exemptions you claim, and ranges from $30 up to $60.
But it’s not automatic. If you want this money (and who wouldn’t?) you need to claim it on your tax form. On the 1040, it’s line 71, and on the 1040A, it’s line 42.
Want more info? Check out these official IRS pages:
Telephone Tax Refund Questions and Answers
Telephone Excise Tax Refund (TETR) - Individuals
(not filing using Schedules C, E, or F)
Telephone Excise Tax Refund (TETR) - Individuals With SCH C, E or F
Telephone Excise Tax Refund (TETR) - Businesses
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Find out more about your taxes at http://www.helpwithincometax.com/.
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