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Are You Due a Refund?

Earlier this year the Internal Revenue Service announced that a one-time refund on the 2006 federal income tax return will be available to anyone who paid long-distance taxes on landline, cell phone or Voice over Internet Protocol (VoIP) service for the period February 28, 2003 to August 1, 2006. Individual taxpayers can claim a standard amount from $30 to $60 based on the number of exemptions claimed on the return in lieu of digging up old phone bills. Those who are not required to file a return can use a new, simple form (Form 1040EZ-T) to claim the standard amount. Businesses, nonprofit organizations, and individuals who choose not to use the standard amounts must fill out Form 8913 and base their refund requests on the actual amount of tax paid. Economists at the U.S. Department of the Treasury estimate the total amount refunded to individuals will be about $10 billion.

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