Wednesday, January 03, 2007

Tax Time

Sharpen your pencils and gather your 1099s and W-2s - it's that time of year again.

WPL will have both state and federal tax forms to help you out, as usual. They are located at the top of the stairs on the second floor.

We are partnering with H&R Block to offer an informational program on 2007 tax changes. Join us in Meeting Rooms A&B on January 9th at 6:30 p.m. If that doesn't fit your schedule, the program will be offered again at noon on January 11th.

We also want to let you know about an additional refund you may not have heard about:

In a surprise move, the Federal Government will be refunding federal telephone excise taxes paid on long distance charges that were billed after 2/28/03 and before 8/1/06. For those individuals not required to file a federal income tax return, you can simply file Form 1040EZ-T, Request for Refund of Federal Telephone Excise Tax, to request a refund.

In short, EVERYONE who had long-distance service during that time period is eligible. The IRS estimates that 159 million people are eligible for this refund.

When requesting this refund, you will be able to take the standard refund amount ($30-$60, depending on the number of exemptions you take on your return), or you will need to use form 8913, and document your actual long-distance expenses and taxes paid.

c 2006 Waterloo Public Library

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