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Subject Author Date
Telephone Tax Refund? Ha! Rick Blaine 01-14-2008
Posted by Rick Blaine on January 14, 2008, 10:03 pm
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 Thought your government was admitting defeat when the courts ordered them to
refund the telephone tax last year? Guess again.

The IRS is sending out 1099s for the interest refund portion of that tax refund,
so you can just give it back to them.

Posted by Condor on January 15, 2008, 12:57 am
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> The IRS is sending out 1099s for the interest refund portion of that tax
> refund,
> so you can just give it back to them.

No 1099s are being sent to the great majority of taxpayers who claimed the
standard TETR amounts. 1099s are going only to the very few taxpayers who
used Form 8913 to figure their TETR.


Condor



Posted by - on January 15, 2008, 1:06 am
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Condor wrote:
>> The IRS is sending out 1099s for the interest refund portion of that tax
>> refund,
>> so you can just give it back to them.
>
> No 1099s are being sent to the great majority of taxpayers who claimed the
> standard TETR amounts. 1099s are going only to the very few taxpayers who
> used Form 8913 to figure their TETR.
>
>
> Condor
>
>
1099's are only furnished for amount of 600.00 or more.
I think I might get back a dollar.

Posted by Paul Thomas, CPA on January 15, 2008, 8:33 am
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> Condor wrote:
>>> The IRS is sending out 1099s for the interest refund portion of that tax
>>> refund,
>>> so you can just give it back to them.
>>
>> No 1099s are being sent to the great majority of taxpayers who claimed
>> the standard TETR amounts. 1099s are going only to the very few
>> taxpayers who used Form 8913 to figure their TETR.
>>
>>
>> Condor
> 1099's are only furnished for amount of 600.00 or more.
> I think I might get back a dollar.




Not on interest income. And it's not a law that they ~~can't~~ issue a 1099
on 60 cents of interest. It's a law that they ~~must~~ if it's over a
certain amount. Under the amount listed in the law, and they can if they
want to. Over the amount listed in the law, and they have to issue, even if
they don't want to.






--
Paul A. Thomas, CPA
Athens, Georgia




Posted by Erehwon on January 15, 2008, 9:47 pm
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> Thought your government was admitting defeat when the courts ordered them
> to
> refund the telephone tax last year? Guess again.
>
> The IRS is sending out 1099s for the interest refund portion of that tax
> refund,
> so you can just give it back to them.

Thanks for the tip. At least now I know why I got the 1099. So what's the
problem? I got a $110 credit last year. Now I pay tax on the $20 of that
refund that was interest, same as any other interest I've earned. Still a
net refund of over $100. Doesn't seem like much to whine about.



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