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You Are Probably Due a Federal Telephone Tax Refund
NAHB members and others in the industry are most likely due a tax refund on the long-distance calls they make for business as part of a federal excise tax refund announced by the Treasury Department last May. At that time, Treasury indicated it would stop collecting the on long-distance telephone service as of Aug. 1, 2006, and provide refunds for taxes billed after Feb. 28, 2003.
Businesses and tax-exempt organizations can figure their refund amounts by comparing two telephone bills from 2006 — one from with a statement date in April 2006, the other with a statement date in September 2006 — to determine the percentage of their telephone expenses attributable to the long-distance excise tax.
Businesses can first determine the telephone tax as a percentage of their April 2006 telephone bills, which included the excise tax for both local and long-distance service. Then they can determine the percentage of the September 2006 bills. These only included the tax on local service.
The difference between these two percentages should then be applied to the quarterly or annual telephone expenses to determine the amount of their refunds.
NAHB members can learn more online at www.nahb.org/taxes. The page, provided by NAHB’s Business Management Department and the Business Management and Information Technology Committee, provides regularly updated information relevant to small businesses and home building businesses.
Business management information on the NAHB Web site is available to NAHB members only.
 NAHB Has More Than 300 Resources to Help You Run Your Business More Profitably
Go to NAHB's Business Management Tools Web pages (available to members only) for instant access to more than 300 timesaving, moneymaking and cost-cutting business resources to help you run your business more profitably. Get guidance on accounting and financial management, business strategy, computers and information technology, customer service, human resources and more.
Resources are added weekly, so bookmark www.nahb.org/biztools to go directly to these vital business management resources.
Local and state home builders associations can link directly to www.nahb.org/biztools from their Web site and give their members instant access to these resources. It will make your HBA's Web site the place to go for the information and guidance that members need to succeed.
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