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U.S. Treasury mulls end of phone excise tax - WSJ
From: David Farber <dave () farber net>
Date: Fri, 14 Apr 2006 15:24:10 -0400
Begin forwarded message: From: Richard Forno <rforno () infowarrior org> Date: April 14, 2006 1:54:53 PM EDT To: Infowarrior List <infowarrior () attrition org> Cc: Dave Farber <dave () farber net> Subject: U.S. Treasury mulls end of phone excise tax - WSJ U.S. Treasury mulls end of phone excise tax - WSJ Fri Apr 14, 2006 5:54am ET10NEW YORK, April 14 (Reuters) - The U.S. Treasury Department is developing a
plan to discontinue a 3 percent federal excise tax on long-distance andwireless telephone calls and to refund billions of dollars to consumers and
businesses that have paid it, the Wall Street Journal said on Friday."Government officials are holding closely guarded discussions on how to best
handle the repayment process as well as mitigate the impact of about $60billion in potential refunds and lost federal revenues over the next five
years," the Journal said.The planned end of the tax follows more than a half dozen court rulings in
recent years that the government is misapplying the tax. The courts have ordered refunds to companies that sued over the charges. Rather than continue to fight similar pending lawsuits, the Treasury hasdecided to concede defeat and discontinue the tax, the report said, citing
government officials. © Reuters 2006. All Rights Reserved.\http://yahoo.reuters.com/news/articlenews.aspx? type=topNews&storyid=urn:news
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- U.S. Treasury mulls end of phone excise tax - WSJ David Farber (Apr 14)