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June 29 2006 @ 04:28 pm
"At Long Last - Tax Relief!"  

"It took 108 years, five appeals-court rulings, and roughly a decade of congressional protest, but on May 26 outgoing US Treasury Secretary John Snow announced that the federal government will finally permit the 1898 telephone tax to expire.

Initially imposed to raise revenue for the Spanish-American War, the telephone excise tax was revised in 1965 to permit the feds 'to tax long-distance calls based on elapsed time, distance, or both,' observed the Chicago Tribune. 'In 2005, the Internal Revenue Service insisted both types of calls were taxable. The courts ruled the tax did not apply to calls billed in time increments of those covered by a flat-rate plan, as most calls currently are.'

Service carriers were required to collect a three-percent excise tax and remit it to federal government. Several carriers, including OfficeMax, Inc. and Hewlett-Packard, led the legal challenge that the Bush administration is 'conceding the issue,' and agreed to refund about $13 billion collected through the illegal tax over the past three years."

~At Long Last - Tax Relief! - The New American


Be careful when voting for taxes because you never know how long your family will have to pay them... granted this is for major companies but how many other taxes are obsolete and still being held up?

 

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