The Senate Finance Committee Wed. approved a repeal of the commun...
The Senate Finance Committee Wed. approved a repeal of the communications excise tax. The markup of Sen. Santorum’s (R-Pa.) proposal (S. 1321) endorses eliminating a 3% tax on local telephone services. The proposal directs phone companies to cease tax…
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collection on long distance services billed after July 31st. The bill has gained serious momentum since the IRS indicated last month that the tax doesn’t apply to flat-rate long distance calls. Service providers like BellSouth, AT&T and USTelecom praised the decision, predicting repeal of the tax this year.