Treasury to refund $13 BILLION to consumers
May 27th, 2006
The Treasury Department said Thursday that it will stop collecting the 3% federal excise tax on long-distance calls and refund about $13 billion to consumers. “It’s not often you get to kill a tax,” said Treasury Secretary John Snow. Individuals will be allowed to claim three years’ worth of refunds on their 2006 tax returns, filed in 2007.
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