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Thursday, May 25, 2006

 
Better Late Than Never

MarketWatch reports:

The brief Spanish-American War ended more than a century ago, but not the federal tax assessed to fund the victory.

Until now.

On Thursday, the U.S. Treasury said it would stop collecting the 3% federal excise tax on long-distance calls, a fee originally assessed in 1898. The government also said it will issue refunds requested by consumers and businesses that paid the fee over the past three years. Taxpayers will be able to request refunds when they file 2006 tax returns in early 2007.




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