FET Refund Announcement from the IRS for Businesses Has Something in it for Everyone
(Fairfax, CA, Nov. 16, 2006) In a move that has something to offer for every business in America, the Internal Revenue Service (IRS) has released guidelines for filing Federal Excise Tax (FET) refunds for businesses and non-profits.
Earlier this year the IRS ordered telecommunications companies to stop billing the 108 year old FET for long distance, cellular and bundled calling plans and they promised taxpayers non-burdensome procedures to receive refunds for payments made during the prior 41 months. Businesses enjoyed a 3% reduction to costs effective July 31. This is a one time event. Some corporations will receive refunds as high as four-million dollars!
The IRS estimates that it will receive one hundred million refund claims totaling between 10 and 14 billion dollars. All business and residential refund requests will be processed with tax filings for 2006. The IRS guidelines are mildly complex but easier than claiming the actual amounts paid. Instructions will be available with the 2006 tax forms soon.
“I call this “The Great FET Tax Refund of 2006”, it affects virtually every business and individual that gets a phone bill.” Says The Phone Tax Refund Guy, Bob Schwartz, CEO of Bill Correctors, Inc. “This time it seems like the IRS has actually made a plan that can work! Many businesses will like the streamlined Formula for estimating refunds due, and many should choose to document and receive the actual amounts paid. There’s plenty of work left for telecom consultants who can read phone bills too, particularly for businesses with intense cellular and long distance expenses.”
To help both individuals and businesses maximize their claim amounts, Schwartz is preparing “My Phone Tax Refund Booklet”. Those interested in receiving a copy of this plain-English, how-to guide may register at http:// www.fetrefunds.com . The site includes helpful tips, a history of the tax, cites cases leading to its demise, and a section to help keep people informed as new information is released. The company will continue offering FET claim processing services to mid-sized and large businesses as well.
About Bill Correctors, Inc.:Begun in 1983 as a premier Telecom Expense Management (TEM) company, BCI (www.billcorrectors.com ) manages and reviews bills from all Telecommunications voice, data, and cellular providers in order to cut telecom confusion, & cost for clients. Based in Fairfax, California, the company manages and consolidates telecom billings, negotiates contracts, and issues detailed enterprise-wide weekly management & expense reports. It also provides cost saving optimization services through invoice reviews, contract compliance reviews, FET claim processing services, policy and procedure assistance as well as order desk services. With TEM Services from BCI (www.temrelief.com ) clients can concentrate on whatever they do best.
Media Contact: Bob Schwartz (415) 457-3000 x 215 email@example.com
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