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Business Telephone Excise Tax Credit Business entities 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. The amount of the credit to which a business taxpayer is entitled can be determined by an actual recalculation of the federal excise tax on each monthly telephone bill or and estimation method based upon the April, 2006 telephone bill compared to the September, 2006 telephone bill. The tax credit should range from 1% to 2% of the total telephone expense for the 41 month period involved in this refund process. The credit is clamed on Form 8913. Please contact any of the partners and staff at Sitrick & Associates, LLC for more information.
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