WOODBRIDGE, Conn. – Mar. 12 (SEND2PRESS NEWSWIRE) — Refunds for Good, Inc., a young CT company created by two social entrepreneurs announced today that it has launched an interactive web portal, www.refundsforgood.org. The site shows individuals and organizations how to claim a telephone excise tax refund on their 2006 tax returns. The multi-media web site also provides visitors with a simple way to donate their “war tax” refund to three exceptional non-profits which are working to address global warming and end global conflicts.
Any U.S. citizen who has paid for phone service between February 28, 2003 and August 1, 2006 is eligible for this tax refund. Individuals who choose a standard refund may receive between $30 and $60 depending on the number of exemptions they claim on their taxes. “Businesses and non-profits may receive tens or hundreds of thousands of dollars, depending on the size of their monthly telephone expenses and other factors. A calculator on this web site allows organizations to determine their precise refund,” said Refunds for Good co-founder, Jonathan Gorham.
“The IRS originally began collecting the excise tax on telephone service in 1898 in order to fund the Spanish-American War. It has come to be known as the ‘War Tax,'” co-founder Michael Swartz noted. In May 2006, following several federal court decisions, the IRS decided to stop assessing the tax on most service. This tax year, the IRS must refund with interest the monies collected over a recent 41-month period. The American public is eligible to receive an estimated $20 billion through this refund, if taxpayers claim it; half going to businesses and non-profits.
“Since most individuals and businesses have not been expecting this refund,” Swartz pointed out, “the refunds represent “found” money for American taxpayers. Thus, without cutting into personal budgets, American telephone customers can use the site to donate monies they will receive from the IRS to any or all of the portal’s non-profit partners.”
Refundsforgood.org educates visitors about these three U.S. non-profits, which are working to address different parts of our global community:
Solar Electric Light Fund brings solar power and modern communications to rural villages in the developing world for enhancements in health, education, and economic well-being.
Physicians for Social Responsibility is the medical and public health voice for policies to stop nuclear war and proliferation and to slow, stop and reverse global warming and toxic degradation of the environment.
PeaceJam Foundation works with Nobel Peace Laureates from around the globe to nurture a new generation of young leaders committed to positive change in themselves and the world through peace-making service projects in their local communities.
Taxpayers can use the secure, on-line form at www.refundsforgood.org to make a direct donation of any amount to one or more of the three non-profits. In return, donors may select from several handsome thank-you gifts. In addition, all donations are tax deductible.
Text provided by the news source.
News issued by: Refunds for Good, Inc.
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Original Story ID: (2608) :: 2007-0312-010_Refunds
Original Keywords: Refunds for Good Inc, War Tax refund, PeaceJam Foundation works with Nobel Peace Laureates, Solar Electric Light Fund, Physicians for Social Responsibility, Jonathan Gorham, Michael Swartz, taxes, accounting, non-profits working to address global warming and end global conflicts Refunds for Good, Inc.
Refunds for Good, Inc.