Standard phone tax refunds.The IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. has stopped collecting the federal excise tax Excise Tax 1. An indirect tax charged on the sale of a particular good. 2. A penalty tax applied to ineligible transactions in retirement accounts. This penalty is assessed by and paid to the IRS. Notes: 1. on long-distance telephone services and has announced standard amounts that individuals can use to tally their telephone tax refund Tax refund Money back from the government when too much tax has been paid or withheld from a salary. . The standard amounts are $30 for a person filing a return with one exemption; $40 for two exemptions; $50 for three exemptions; and $60 for four or more exemptions. For more information, visit www.irs.gov/newsroom/article/0,,id=161504,00.html. |
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