The IRS said Thurs. a ‘reasonable approach’ for companies to coll...
The IRS said Thurs. a “reasonable approach” for companies to collect refunds of the excise tax on long distance phone service, said USTelecom Pres. Walter McCormick. The agency, which declared this year it no longer would collect the tax,…
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already outlined how individual taxpayers could get refunds. A similar process now has been offered to businesses and tax exempt entities, giving them an option of listing actual tax paid or using a formula. The next step is for Congress to repeal the phone excise tax, still imposed on local phone service, McCormick said.