Sponsored by Oregon Business

Tax advice: Your business could get a phone tax refund

| Print |  Email
Thursday, March 01, 2007

As tax season approaches it can feel as though Uncle Sam lives to take money. But every once in a while, he gives a little back.

Businesses are eligible for a federal excise tax refund on their long-distance and bundled telephone services dated from March 1, 2003, through July 2006. Landline, wireless or voice-over IP long-distance services all qualify for refunds.

Haven’t heard of this before? That could be because this is a one-time refund that has to be claimed on 2006 income tax returns, says Scott Remington, a tax partner at the Portland office of Grant Thornton, an accounting, business and tax advisory firm.

“Unlike a lot of tax ideas,” he says, “this has more widespread applicability.”

Business entities such as corporations, trusts and nonprofits can request the telephone tax refund. Remington says the claims process is straightforward: Businesses can either sift through their records from the past 41 months or use a formula on the Internal Revenue Service website that can estimate the amount of refunds an organization is entitled to.

“At a minimum, if they have the resources, companies should adopt the shorter method,” says Remington.

No matter which process an organization chooses to use, Form 8913 must be completed or a company risks losing out on this refund opportunity. Companies should include the form with their filed 2006 return. The IRS estimates about $10 billion in phone tax refunds will be made by the end of the tax season.

For more information and to find Form 8913, go to the IRS website at http://www.irs.gov/newsroom.

— Colleen Moran

Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it


More Articles

Money Troubles

September 2015
Thursday, August 20, 2015

The state’s angel investing fund gets hammered in Salem.


Let it Rain

October 2015
Monday, September 28, 2015

This year has been so dry we were caught napping when it finally started to sprinkle. Hopefully you didn’t get caught in a downpour while eagerly awaiting — don’t deny it — our curation of Oregon-grown wet weather wear.


Getting What You Pay For

September 2015
Wednesday, August 19, 2015

A conversation with Chris Maples, president of the Oregon Institute of Technology.


5 marijuana business people share strategy ahead of recreational sales rollout

The Latest
Thursday, September 17, 2015

Ahead of the recreational rollout, what are dispensary owners most concerned about ?


Big Trouble in China?

Guest Blog
Tuesday, August 18, 2015
0818-wellmanthumbBY JASON NORRIS | CFA

Earlier this month, the People’s Bank of China (PBoC) announced they were going to devalue their currency, the Renminbi. While the amount of the targeted change was to be roughly 2 percent, investors read a lot more into the move. The Renminbi had been gradually appreciating against the U.S. dollar (see chart) as to attempt to alleviate concerns of being labeled a currency manipulator.


The God complex

Linda Baker
Wednesday, September 30, 2015
093015-zydellren-thumbBY LINDA BAKER | EDITOR

The media coverage about Pope Francis must have put me in a Biblical frame of mind. Because after touring the latest phase of the South Waterfront development, a mind boggling 1.5 million square feet of office and retail space that will spring up north of the aerial tram over the next few years, I couldn’t stop thinking about the massive project as a modern day creation story.


After the Orange Line

Linda Baker
Tuesday, September 08, 2015
090815-trimet-thumbBY LINDA BAKER

Alan Lehto, TriMet's director of policy & planning, shares a few thoughts on ride sharing and more nimble bus services.

Oregon Business magazinetitle-sponsored-links-02