Tele. Excise Tax Credit

[Bird Legs]

C Corp. has telephone bills which are paid monthly and these are operating expenses.
If the corp. takes a credit for the excise tax on the 1120 at the end of the year does it
also have to pick up as income, amount of the credit? Since the excise tax was
already deducted once as a business expense.
Please forgive this rambling but this has not been a good day.
Thanks for any comments on this. Just hope I made myself clear.

[Lion]

Yes

Yes, if the credit was for what had been a business expense, the refund will be income to that business. Can't lay my hands on where I read that. Maybe a Q&A bulletin from the IRS...

[Bird Legs]

Lion, thank you

very much for your response.
It is greatly appreciated.