You are entitled to tax refunds for the excise tax you paid on your business long-distance phone services from March 2003 through July 2006 (41 months total). To calculate your business tax credit, you have two choices:

Use the newly released simplified formula.

Use the actual excise tax from the 41 months of phone bills.

Under the simplified formula, you follow these four steps:

Take all April 2006 phone bills, including land line, fax, cell, local, and long distance, and divide total federal excise ... Log in to view full article.