Re: {OT} One-time tax credit in the US!

In article <emuik3.2g0.1@news.evilcabal.org>,
"Wickeddoll®" <wickeddoll1958diespammersdie@yahoo.com> wrote:
[color=blue]
> Special One time tax credit on 2006 tax return
>
> [url]http://www.snopes.com/business/taxes/excise.asp[/url]
>
>
>
> When it comes time to prepare and file your 2006 tax return, make sure you
> don't overlook the "federal excise tax refund credit." You claim the credit
> on line 71 of your form 1040. A similar line will be available if you file
> the short form 1040A. If you have family or friends who no longer file a tax
> return AND they have their own land phone in their home and have been paying
> a phone bill for years, make sure they know about this form 1040EZ-T.
>
> What is this all about? Well the federal excise tax has been charged to you
> on your phone bill for years. It is an old tax that was assessed on your
> toll calls based on how far the call was being made and how much time you
> talked on that call. When phone companies began to offer flat fee phone
> service, challenges to the excise tax ended up in federal courts in several
> districts of the country. The challenges pointed out that flat fee/rate
> phone service had nothing to do with the distance and the length of the
> phone call. Therefore, the excise tax should/could not be assessed.
>
> The IRS has now conceded this argument. Phone companies have been given
> notice to stop assessing the federal excise tax as of Aug 30, 2006. You will
> most likely see the tax on your September cutoff statement, but it should
> NOT be on your October bill.
>
> But the challengers of the old law also demanded restitution. So the IRS has
> announced that a one time credit will be available when you and I file our
> 2006 tax return as I explained above. However, the IRS also established
> limits on how BIG a credit you can get Here's how it works.
>
> If you file your return as a single person with just you as a dependent, you
> get to claim a $30 credit on line 71 of your 1040.
>
> If you file with a child or a parent as your dependent, you claim $40.
>
> If you file your return as a married couple with no children ,you claim $40.
>
> If you file as married with children, you claim $50 if one child, $60 if two
> children.
>
> In all cases, the most you get to claim is $60 - UNLESS you have all your
> phone bills starting AFTER Feb 28, 2003 through July 31, 2006 (do not use
> any bills starting Aug 1, 2006.), then you can add up the ACTUAL TAX AS IT
> APPEARS ON YOUR BILLS AND CLAIM THAT FOR A CREDIT.
>
> Now if you have your actual phone bills and come up with an ACTUAL TAX
> AMOUNT, you cannot use line 71 on your tax return. You have to complete a
> special form number 8913 and attach it to your tax return.
>
> Individuals using the special from 1040EZ-T will have to attach this form
> 8913 also.
>
> One final point - this credit is a refundable credit. That means you get
> this money, no matter how your tax return works out. If you would end up
> owing the IRS a balance, the refund will reduce that balance you owe. If you
> end up getting a refund, the credit will be added and you get a bigger
> refund by that $30 to $60, depending on how many dependents are on your
> return.[/color]

I've got ALL my phone bills :)
--

" dbu," <repubs@waitfor08.com> wrote in message
news:repubs-E9F47D.04151228122006@comcast.dca.giganews.com...[color=blue]
> In article <emuik3.2g0.1@news.evilcabal.org>,
> "Wickeddoll®" <wickeddoll1958diespammersdie@yahoo.com> wrote:
>[color=green]
>> Special One time tax credit on 2006 tax return
>>
>> [url]http://www.snopes.com/business/taxes/excise.asp[/url]
>>
>>
>>
>> When it comes time to prepare and file your 2006 tax return, make sure
>> you
>> don't overlook the "federal excise tax refund credit." You claim the
>> credit
>> on line 71 of your form 1040. A similar line will be available if you
>> file
>> the short form 1040A. If you have family or friends who no longer file a
>> tax
>> return AND they have their own land phone in their home and have been
>> paying
>> a phone bill for years, make sure they know about this form 1040EZ-T.
>>
>> What is this all about? Well the federal excise tax has been charged to
>> you
>> on your phone bill for years. It is an old tax that was assessed on your
>> toll calls based on how far the call was being made and how much time you
>> talked on that call. When phone companies began to offer flat fee phone
>> service, challenges to the excise tax ended up in federal courts in
>> several
>> districts of the country. The challenges pointed out that flat fee/rate
>> phone service had nothing to do with the distance and the length of the
>> phone call. Therefore, the excise tax should/could not be assessed.
>>
>> The IRS has now conceded this argument. Phone companies have been given
>> notice to stop assessing the federal excise tax as of Aug 30, 2006. You
>> will
>> most likely see the tax on your September cutoff statement, but it should
>> NOT be on your October bill.
>>
>> But the challengers of the old law also demanded restitution. So the IRS
>> has
>> announced that a one time credit will be available when you and I file
>> our
>> 2006 tax return as I explained above. However, the IRS also established
>> limits on how BIG a credit you can get Here's how it works.
>>
>> If you file your return as a single person with just you as a dependent,
>> you
>> get to claim a $30 credit on line 71 of your 1040.
>>
>> If you file with a child or a parent as your dependent, you claim $40.
>>
>> If you file your return as a married couple with no children ,you claim
>> $40.
>>
>> If you file as married with children, you claim $50 if one child, $60 if
>> two
>> children.
>>
>> In all cases, the most you get to claim is $60 - UNLESS you have all your
>> phone bills starting AFTER Feb 28, 2003 through July 31, 2006 (do not use
>> any bills starting Aug 1, 2006.), then you can add up the ACTUAL TAX AS
>> IT
>> APPEARS ON YOUR BILLS AND CLAIM THAT FOR A CREDIT.
>>
>> Now if you have your actual phone bills and come up with an ACTUAL TAX
>> AMOUNT, you cannot use line 71 on your tax return. You have to complete a
>> special form number 8913 and attach it to your tax return.
>>
>> Individuals using the special from 1040EZ-T will have to attach this form
>> 8913 also.
>>
>> One final point - this credit is a refundable credit. That means you get
>> this money, no matter how your tax return works out. If you would end up
>> owing the IRS a balance, the refund will reduce that balance you owe. If
>> you
>> end up getting a refund, the credit will be added and you get a bigger
>> refund by that $30 to $60, depending on how many dependents are on your
>> return.[/color]
>
> I've got ALL my phone bills :)
> --
>[/color]

And OCD?

" dbu," <repubs@waitfor08.com> wrote in message
news:repubs-E9F47D.04151228122006@comcast.dca.giganews.com...[color=blue]
> In article <emuik3.2g0.1@news.evilcabal.org>,
> "Wickeddoll®" <wickeddoll1958diespammersdie@yahoo.com> wrote:
>[color=green]
>> Special One time tax credit on 2006 tax return
>>
>> [url]http://www.snopes.com/business/taxes/excise.asp[/url]
>>
>>
>>
>> When it comes time to prepare and file your 2006 tax return, make sure
>> you
>> don't overlook the "federal excise tax refund credit." You claim the
>> credit
>> on line 71 of your form 1040. A similar line will be available if you
>> file
>> the short form 1040A. If you have family or friends who no longer file a
>> tax
>> return AND they have their own land phone in their home and have been
>> paying
>> a phone bill for years, make sure they know about this form 1040EZ-T.
>>
>> What is this all about? Well the federal excise tax has been charged to
>> you
>> on your phone bill for years. It is an old tax that was assessed on your
>> toll calls based on how far the call was being made and how much time you
>> talked on that call. When phone companies began to offer flat fee phone
>> service, challenges to the excise tax ended up in federal courts in
>> several
>> districts of the country. The challenges pointed out that flat fee/rate
>> phone service had nothing to do with the distance and the length of the
>> phone call. Therefore, the excise tax should/could not be assessed.
>>
>> The IRS has now conceded this argument. Phone companies have been given
>> notice to stop assessing the federal excise tax as of Aug 30, 2006. You
>> will
>> most likely see the tax on your September cutoff statement, but it should
>> NOT be on your October bill.
>>
>> But the challengers of the old law also demanded restitution. So the IRS
>> has
>> announced that a one time credit will be available when you and I file
>> our
>> 2006 tax return as I explained above. However, the IRS also established
>> limits on how BIG a credit you can get Here's how it works.
>>
>> If you file your return as a single person with just you as a dependent,
>> you
>> get to claim a $30 credit on line 71 of your 1040.
>>
>> If you file with a child or a parent as your dependent, you claim $40.
>>
>> If you file your return as a married couple with no children ,you claim
>> $40.
>>
>> If you file as married with children, you claim $50 if one child, $60 if
>> two
>> children.
>>
>> In all cases, the most you get to claim is $60 - UNLESS you have all your
>> phone bills starting AFTER Feb 28, 2003 through July 31, 2006 (do not use
>> any bills starting Aug 1, 2006.), then you can add up the ACTUAL TAX AS
>> IT
>> APPEARS ON YOUR BILLS AND CLAIM THAT FOR A CREDIT.
>>
>> Now if you have your actual phone bills and come up with an ACTUAL TAX
>> AMOUNT, you cannot use line 71 on your tax return. You have to complete a
>> special form number 8913 and attach it to your tax return.
>>
>> Individuals using the special from 1040EZ-T will have to attach this form
>> 8913 also.
>>
>> One final point - this credit is a refundable credit. That means you get
>> this money, no matter how your tax return works out. If you would end up
>> owing the IRS a balance, the refund will reduce that balance you owe. If
>> you
>> end up getting a refund, the credit will be added and you get a bigger
>> refund by that $30 to $60, depending on how many dependents are on your
>> return.[/color]
>
> I've got ALL my phone bills :)
> --
>[/color]

What really sucks is that hubby used to keep *everything* for five years,
but I nagged him out of that habit.

He's giving me the 'told-ya-so' treatment now.

I deserve it...

:-)

Natalie

"Wickeddoll®" <wickeddoll1958diespammersdie@yahoo.com> wrote in message
news:en0r29.2v4.1@news.evilcabal.org...[color=blue]
>
> " dbu," <repubs@waitfor08.com> wrote in message
> news:repubs-E9F47D.04151228122006@comcast.dca.giganews.com...[color=green]
>> In article <emuik3.2g0.1@news.evilcabal.org>,
>> "Wickeddoll®" <wickeddoll1958diespammersdie@yahoo.com> wrote:
>>[color=darkred]
>>> Special One time tax credit on 2006 tax return
>>>
>>> [url]http://www.snopes.com/business/taxes/excise.asp[/url]
>>>
>>>
>>>
>>> When it comes time to prepare and file your 2006 tax return, make sure
>>> you
>>> don't overlook the "federal excise tax refund credit." You claim the
>>> credit
>>> on line 71 of your form 1040. A similar line will be available if you
>>> file
>>> the short form 1040A. If you have family or friends who no longer file a
>>> tax
>>> return AND they have their own land phone in their home and have been
>>> paying
>>> a phone bill for years, make sure they know about this form 1040EZ-T.
>>>
>>> What is this all about? Well the federal excise tax has been charged to
>>> you
>>> on your phone bill for years. It is an old tax that was assessed on your
>>> toll calls based on how far the call was being made and how much time
>>> you
>>> talked on that call. When phone companies began to offer flat fee phone
>>> service, challenges to the excise tax ended up in federal courts in
>>> several
>>> districts of the country. The challenges pointed out that flat fee/rate
>>> phone service had nothing to do with the distance and the length of the
>>> phone call. Therefore, the excise tax should/could not be assessed.
>>>
>>> The IRS has now conceded this argument. Phone companies have been given
>>> notice to stop assessing the federal excise tax as of Aug 30, 2006. You
>>> will
>>> most likely see the tax on your September cutoff statement, but it
>>> should
>>> NOT be on your October bill.
>>>
>>> But the challengers of the old law also demanded restitution. So the IRS
>>> has
>>> announced that a one time credit will be available when you and I file
>>> our
>>> 2006 tax return as I explained above. However, the IRS also established
>>> limits on how BIG a credit you can get Here's how it works.
>>>
>>> If you file your return as a single person with just you as a dependent,
>>> you
>>> get to claim a $30 credit on line 71 of your 1040.
>>>
>>> If you file with a child or a parent as your dependent, you claim $40.
>>>
>>> If you file your return as a married couple with no children ,you claim
>>> $40.
>>>
>>> If you file as married with children, you claim $50 if one child, $60 if
>>> two
>>> children.
>>>
>>> In all cases, the most you get to claim is $60 - UNLESS you have all
>>> your
>>> phone bills starting AFTER Feb 28, 2003 through July 31, 2006 (do not
>>> use
>>> any bills starting Aug 1, 2006.), then you can add up the ACTUAL TAX AS
>>> IT
>>> APPEARS ON YOUR BILLS AND CLAIM THAT FOR A CREDIT.
>>>
>>> Now if you have your actual phone bills and come up with an ACTUAL TAX
>>> AMOUNT, you cannot use line 71 on your tax return. You have to complete
>>> a
>>> special form number 8913 and attach it to your tax return.
>>>
>>> Individuals using the special from 1040EZ-T will have to attach this
>>> form
>>> 8913 also.
>>>
>>> One final point - this credit is a refundable credit. That means you get
>>> this money, no matter how your tax return works out. If you would end up
>>> owing the IRS a balance, the refund will reduce that balance you owe. If
>>> you
>>> end up getting a refund, the credit will be added and you get a bigger
>>> refund by that $30 to $60, depending on how many dependents are on your
>>> return.[/color]
>>
>> I've got ALL my phone bills :)
>> --
>>[/color]
>
> What really sucks is that hubby used to keep *everything* for five years,
> but I nagged him out of that habit.
>
> He's giving me the 'told-ya-so' treatment now.
>
> I deserve it...
>
> :-)
>
> Natalie[/color]

Up here in Canada, one is well advised to keep ALL income tax related
documents for at LEAST 6 years.



[color=blue]
>
>[/color]