What's New: Verizon Stops Collecting Telephone Tax

Verizon will stop collecting a 108-year old tax on telephone service, now that the IRS will no longer fight for the tax in court. The 3% tax on phone service was originally launched in 1898 to help pay for the Spanish-American War. Hopefully Verizon will lead other telecom vendors in abandoning this tax, now that the war is over. Further, reportedly citizens will receive a rebate or credit for the last three years of this tax on our 2006 tax returns.

Tuesday, Aug 1, 2006 04:28 pm CDT

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