TELCO TAX BILL DROPS WITH EXCISE TAX REFUNDS, SAYS CBO

摘要

Phone company tax bills fall this year as CBO forecasts drops in excise tax refunds from 2007's $13 billion to $2 billion in 2008. The IRS will refund with interest revenue collected since April 2003, CBO said. The phone tax was among major sources of excise receipts, CBO said, but after losing in several courts the IRS decided to stop collecting it. Receipts from the excise tax will be less than $150 million after 2011, so CBO cut its projected $11 billion in total federal phone tax receipts for 2007-2016 from an Aug. estimate.