Millions of people are overlooking an easy way to collect money from Uncle Sam.
Many phone customers didn't claim a one-time phone excise-tax refund on their federal income-tax returns last year. Most phone customers, including most cellphone users, were eligible for the refund. But Internal Revenue Service officials report only about 70% of those eligible for the refund requested it.
If that includes you, the good news is that it's not too late. You still have time to collect.
But don't try doing it on your return for 2007. Instead, file what's known as an amended return for 2006. Use Form 1040X, available on the IRS Web site .
Many phone customers didn't claim a one-time phone excise-tax refund on their federal income-tax returns last year. Most phone customers, including most cellphone users, were eligible for the refund. But Internal Revenue Service officials report only about 70% of those eligible for the refund requested it.
If that includes you, the good news is that it's not too late. You still have time to collect.
But don't try doing it on your return for 2007. Instead, file what's known as an amended return for 2006. Use Form 1040X, available on the IRS Web site .
There are two ways to calculate the amount. First, you can base it on the actual amount of taxes you paid during the applicable period, assuming you kept good records. Or you can use the IRS's standard amount, as about 99% of all returns requesting the refund have done. That amount is based on the number of exemptions you claim on your return.
If you claimed one exemption, the standard amount would be $30. If you claimed four exemptions, the standard amount would be $60.
If you claimed one exemption, the standard amount would be $30. If you claimed four exemptions, the standard amount would be $60.
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