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Federal Excise Tax refund 2006 Tax Return Only

djs134

BoM May '06
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I just received an Email on this and thought I'd share it with everyone. Apparently there is a one time refund from the Feds for the Long Distance Excise Tax we've all been paying for years.

I checked it out on Urban Legend sites as well as teh IRS site and it seems legit.

Check it out Here
 
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Some numbers that jump out at me:

What is the total amount the government expects to refund?

Economists at the U.S. Department of the Treasury estimate the amount refunded to individuals will be about $10 billion. (More US red ink)

What is the standard amount?

Individual taxpayers can take a standard amount from $30 to $60 based on the number of exemptions claimed on their tax return. For those claiming:

• one exemption, the standard refund amount is: $30
• two exemptions, the standard refund amount is: $40
• three exemptions, the standard refund amount is: $50 (I'll take my share for three exemptions)
• four exemptions or more, the standard refund amount is: $60
 
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