Posted by John_NorCal on 1/25/07 9:47pm
Msg #172622
Telephone Excise Tax caveat
Just to let you know..
The Internal Revenue Service said today that early filings show some individual taxpayers have requested large and apparently improper amounts for the special telephone tax refund. The IRS is investigating potential abuses in this area and will take prompt action against taxpayers who claim improper refund amounts and the return preparers who help them.
“While the vast majority of taxpayers are claiming the telephone tax refund correctly, we are seeing some clear abuse involving overstated refund requests,” said IRS Commissioner Mark W. Everson. “People requesting an inflated amount will likely see their refund frozen, may have their entire tax return audited and even face criminal prosecution where warranted.”
Most people on the board are probably not affected by this other than to make their own valid claim. However for the few who operate multiple businesses, a corporate entity, etc, please take heed.
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