phone excise tax question


A

Angie

The IRS site states:
Taxpayers have a choice: a standard refund amount between $30 and $60, based
on the total number of exemptions claimed on their 2006 tax return, to
eliminate the need to locate old phone bills; or they can locate those bills
and use the actual amount.

- Choosing the standard refund amount? You'll find an extra line on your tax
returns for the refund.


Question: The 1040EZ does not give specifics on the dollar amount I should
put on the form for ONE Exemption.

Anyone know?
 
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P

Paul Thomas

Angie said:
The IRS site states:
Taxpayers have a choice: a standard refund amount between $30 and $60,
based on the total number of exemptions claimed on their 2006 tax return,
to eliminate the need to locate old phone bills; or they can locate those
bills and use the actual amount.

- Choosing the standard refund amount? You'll find an extra line on your
tax returns for the refund.


Question: The 1040EZ does not give specifics on the dollar amount I
should put on the form for ONE Exemption.

Anyone know?


$30.



If you are married ~or~ have a child, ie: two exemptions, it's $40.

If you are married with one child, or single with two children, ie: three
exemptions, it's $50.

Married with two (or more) kids, or single with three (or more) kids, ie:
four (or more) exemptions it's $60.




If you are a dependent of another (like your parent(s)), you have to use
your actual phone tax paid to compute the credit.
 

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