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The 3% Federal Excise Tax (FET) on voice telecommunications toll charges applies to calls where the charge varies by time and distance. Now most telephone providers charge for toll calls at a flat rate per minute. As a result, the door is open for companies who qualify for a refund of overpayment of this tax. Pursuant to Notice 2006-50, FET refund amounts for the period from March 1, 2003 - July 31, 2006 must be included in 2006 federal income tax filings. We will quantify the amount of overpayment and accrued interest for these taxes paid so you can include it in your 2006 federal filing.
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