Telephone Excise Tax Refund (TETR)

GDT e-filed his 2006 taxes on 27 March 2007. He noticed that the tax form had a "telephone excise tax refund" (TETR) field. According to IRS.gov, TETR is a "one-time payment available on your 2006 federal income tax return. It is designed to refund previously collected long distance telephone taxes."

This BAB was created the day after GDT filed his taxes after he read about TETR at EastValleyTribune.com.

IRS.gov reported that "in the first release of this year's weekly filing season statistics, about 30 percent of all taxpayers did not request the telephone tax refund."

As of 16 February 2007, 37,793,000 individual income tax returns has been received by the IRS and "more than 10 million taxpayers did not request the telephone tax refund. And nearly half of those returns -- more than 4.8 million -- were completed by a tax preparer"

The following is some non-TETR information that was contained in the TETR press release found on the IRS.gov website.

    =================== as of 2/16/2007 ================
    total number of refunds:  31,784,000
        total refund amount:  $86.862 billion
             average refund:  $2,733  ($2,637 last year)

There have been 30,445,000 e-filing receipts and 9,176,000 receipts were "self-prepared."

Exercises
  1. Approximately ______% of received tax returns are not getting a refund.

  2. The "total refund amount" written as a whole number is _____________________.

  3. The "average refund" amount of $2,733 is ______% higher than last year's "average refund." [record answer to nearest hundredth]

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Creator: Gerald D. Thurman [gthurman@gmail.com]
Created: 28 March 2007

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