Large Investment Bank Selects ComSci for Telecom Bill Audit
ComSci will also provide new FET Documentation Service
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Edison, NJ, September 12, 2006 - ComSci, a leading provider of IT financial management solutions, has
signed an agreement with a large investment banking firm to provide a Telecom Bill Audit, with
an added scope of isolating and quantifying the amount of the Federal Excise Tax refund. The
Telecom Bill Audit will consist of a detailed review of all telecommunications invoices and
associated services to ensure all contracted rates are being properly applied to the firm's
invoices. As part of the agreement, ComSci will also perform a physical inventory of all lines
and circuits to ensure the firm is properly paying for the services they need and use.
New FET Documentation ServiceIn addition to the Telecom Bill Audit, ComSci will also provide our new FET Documentation Service. Our new FET Documentation Service is in response to the U.S. Treasury Department's May 25th statement that it "will no longer pursue litigation and the Internal Revenue Service (IRS) will issue refunds of tax on long-distance service for the past three years." www.treasury.gov/press/releases/js4287.htm Established in 1898, the federal government enacted a 3% excise tax to fund the 6-month long Spanish- American War. This "temporary luxury tax" was applied to voice telephonic services and now 108 years later, one provision of the tax is being terminated. The overall three-year refunds can be substantial for organizations with multimillion dollar telecom expenditures. Clients have a one-time opportunity to claim the Federal Excise Tax on their 2006 Tax Returns. ComSci has leveraged our expertise, knowledge base and core competency in telecommunications billing to assist our clients in quantifying and documenting the amount of Federal Excise Tax allowable for submission. About ComSci
ComSci delivers Technology Financial Management™ solutions that empower organizations to implement more effective IT financial governance. Through decades of experience and a suite of web-based tools, ComSci helps IT organizations enhance technology transparency and visibility, which in turn enables business units to understand and optimize demand and utilization of technology resources. ComSci is headquartered in Edison, New Jersey, and was founded in 1971.