Individual Telephone Excise Tax Credit
Home Up Business Telephone Excise Tax Credit Individual Telephone Excise Tax Credit §179 Deduction Health Savings Accounts 2005 Retirement Plan Limits §199 Manufacturer Kiddie Tax Alternative Minimum Tax Capital Gains and Qualified Divi ROTH Designated §401 §179 And SUV's 2005 Standard Deduction Optional Sales Tax Deduction Vehicle Donations

 

Home
Up
Business Telephone Excise Tax Credit
Individual Telephone Excise Tax Credit
§179 Deduction
Health Savings Accounts
2005 Retirement Plan Limits
§199 Manufacturer
Kiddie Tax
Alternative Minimum Tax
Capital Gains and Qualified Divi
ROTH Designated §401
§179 And SUV's
2005 Standard Deduction
Optional Sales Tax Deduction
Vehicle Donations

 

 

Individual Telephone Excise Tax Credit

Individuals that had a telephone line on which they were charged federal excise tax from February of 2003 through July of 2006 are eligible for a tax credit on their 2006 individual income tax return.  Under a safer harbor provision the credit amount is based upon the number of dependency exemptions claimed on the 2006 return.  The credit is as follows:

Exemptions Credit
One $30
Two $40
Three $50
Four or more $60

 

 

 

 

The credit is clamed on Form 8913.  Businesses should refer to the Business Telephone Tax Credit .