Financial Recovery Services Blog

Telephone Excise Tax Refund (TETR)

Monday, March 2, 2009

The flurry of activity must be a sign of the times for the long forgotten about telephone excise tax refund (TETR). It seems that before the New Year, Financial Recovery Services (FRS) was pursuing businesses to convince them to file for their federal excise tax refund. Now they seem convinced and are reaching out to us for assistance.

We have to say "Thank You," because even our clients are referring other businesses and C level relationships to us. We are being asked how we can help them get their refund. The FRS streamlined processes make it an easy decision to work with us because it saves our clients valuable time and recovers a substantial refund. With all the layoffs, everyone wearing multiple hats and internal department resources being spread as thin as they are, we help facilitate and manage the refund process.

Our partner and CPA Michael Mallon, who is a seasoned ex-Ernst & Young auditor, is now busier than ever keeping up with the flow of amended returns he is preparing. It's a good thing in today’s economy to be helping our clients obtain their refunds for a modest amount of time invested on their part. We are happy they are prepared to take the necessary steps and work with us. Even some of our clients who have already filed using the estimated method are now re-visiting the TETR opportunity and re-filing with us via the actual method.

There has definitely been a paradigm shift and the mindset of businesses today is now saying, "We can't afford to leave any money on the table."