Don't forget about the special one-time federal excise tax credit

[Matthew]

Make sure you don't overlook the "federal excise tax refund credit." in your 2006 federal return. You claim the credit on line 71 of your form 1040. A similar line will be available if you file the short form 1040A. If you have family or friends who no longer file a tax return AND they have their own land phone in their home and have been paying a phone bill for years, make sure they know about this form 1040EZ-T.

If you file your return as a single person with just you as a dependent , you get to claim a $30 credit on line 71 of your 1040.

If you file with a child or a parent as your dependent, you claim $40.

If you file your return as a married couple with no children ,you claim $40.

If you file as married with children, you claim $50 if one child, $60 if two children.

This credit is a refundable credit. That means you get this money, no matter how your tax return works out. If you would end up owing the IRS a balance, the refund will reduce that balance you owe. If you end up getting a refund, the credit will be added and you get a bigger refund by that $30 to $60, depending on how many dependents are on your return.

[Wilbur]

Cool. Thanks, Matt!

[Lisa]

yea thank we have not filed yet so I will look for the credit