Sunday, April 08, 2007

It's almost tax day! Don't forget your "War Tax" deduction!

If you've not done your taxes yet, Refunds for Good will explain how to claim the deduction for the "war tax"...a federal excise tax on your phone bills.

As explained in Amy Goodman's piece at Alternet, the tax was originally established in 1898 to help the United States pay for the Spanish-American War. It was originally 1% of the bill but was eventually increased to 3%. This year you can take a standard deduction for the rebate, or you can take the time to calculate exactly how much you've paid in the eligible period between March 1, 2003, and July 31, 2006. Personally, I don't keep phone bills for years on end, and I'll just take the standard deduction, but it's probably a larger amount if you can figure out the actuals.

So as Ms Goodman says, take your rebate and let the Pentagon hold a bake sale.


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