Taxpayers Missing Out On Phone Refund

Tax

Millions of taxpayers aren't cashing in on a one–time telephone refund when filing their returns this year. The IRS says as of mid–February 30 percent of taxpayers hadn't claimed the refund worth between $30 and $60.

IRS officials believe many have missed out on the rebate because some professionals aren't aware of it. The refund is the result of the government over charging for long-distance telephone service. Those who wish to claim the refund only have to check a box indicating so.

Taxpayers have the choice of taking the standard refund amount based on personal exemptions ranging from $30 to $60. Or if taxpayers have phone bills and other records they can request the actual amount of excise tax paid from March of 2003 to the end of July 2006.