Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

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Archive for October 16th, 2007

Posted by taxguru on October 16, 2007

People will move due to taxes, a fact that short-sighted state rulers refuse to acknowledge.

Posted in comix, StateTaxes | Comments Off on

Telephone Tax Credit

Posted by taxguru on October 16, 2007

The IRS says taxpayers collected only half of the $8B available for the refund of phone taxes.

The form to claim this refund is very intimidating, with all of its lines and the need to have phone bill info going back into 2003. I have found that this has been another big benefit of having everything on QuickBooks and keeping multiple years running in the same file. When preparing tax returns, clients who didn’t use QuickBooks have had to settle for the tiny standard amounts of $30 to $60. For those with their data in QB, going back at least into 2003, I have been able to fill in all of the necessary data in Lacerte in about 12 minutes and the credits have been averaging several hundred dollars.

More from IRS.

Form 8913

Instructions for the 8913

Posted in Credits, QB | Comments Off on Telephone Tax Credit