CO Taxpayers Are Missing One-Time Refund

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News from the IRS Friday that thousands of Coloradans have already missed out on a one-time tax refund.

"People just aren’t taking advantage of it and they need to, it's their money," said Mary Arndt from Liberty Tax Service.

It's a one-time telephone excise tax refund that the IRS is offering because of a court decision. If you had a telephone with long distance service from March 2003 through July of 2006, you qualify for the refund.

"For years and years the federal government has been charging a telephone excise tax that the sole purpose was met years ago," said Arndt.

A small tax that most people didn't even notice on their monthly bills and it's now going unnoticed once again as a refund. To make the refund easy to figure the IRS established a standard amount, so you don't have to dig through your old phone bills.

"There's a chart that the IRS has that says based on your number of exemptions you get a credit," said Arndt.

A credit she says ranges from 30-dollars to 60-dollars. You just have to fill out one line under payments on your return and the money is yours, no proof of phone service necessary.

The refund is only being offered for 2006 taxes. Nationwide already more than 10-million Americans have not requested this refund. To get the refund simply fill out line 71 on Form 1040, Line 42 on form 1040A, Line 9 on form 1040EZ.