Rural readers of this blog will be interested to know that you’ll be able to apply for a one time tax credit this year.
On May 25, 2006, the Internal Revenue Service (“IRS”) announced that it would stop collecting the federal excise tax on long-distance telephone service charges that are purely time based. Notice 2006-50 reverses the once defiant position of the IRS and states that taxpayers will no longer be required to pay a tax on charges for long-distance telephone service that are based solely on the amount of time for the phone call.

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Categories: Farm and Field
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