Over the next couple of months, we’ll be looking more at taxes, since it’s that time of year. Every year there are new tax rules that can affect your personal finances, and knowing what to look for (especially if you do your own taxes like I do) can be extremely helpful. Today is a short tax tip: Check for wrongly collected excise taxes on your long-distance phone bill.
The government wrongly collected long-distance excise taxes on cell phone, landline and Internet phones between March of 2003 and July of 2006. This means that you might have somewhere between $15 and $60 or more waiting for you. Check your phone bills and then determine how much you paid. Then claim it on your taxes. If you don’t want to go through the hassle, check for the fixed amount being offered. Depending on your exemptions, you could get between $30 and $60 back. While it may not seem like much, every little bit helps when it comes to financial planning. At the very least its a dinner out.
For more on the excise taxes refund, check out the IRS Web site.