UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                  SCHEDULE 13G

                   Under the Securities Exchange Act of 1934*

                               (Amendment No. __)

                                IDT Corporation
                         ------------------------------
                                (Name of Issuer)

                          Common Stock, $.01 par value
                         ------------------------------
                         (Title of Class of Securities)

                                    448947101
                                 --------------
                                 (CUSIP Number)

                                September 5, 2008
                                -----------------
             (Date of Event Which Requires Filing of this Statement)

     Check the appropriate box to designate the rule pursuant to which this
                               Schedule is filed:

                                [ ] Rule 13d-1(b)
                                [X] Rule 13d-1(c)
                                [ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).




-------------------                                           ------------------
CUSIP No. 448947101                    13G                    Page 2 of 10 Pages
-------------------                                           ------------------

---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON
           S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Mihaljevic Capital Management LLC
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a) [ ]

                                                                         (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY
---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             725,037
     OWNED BY
       EACH          ------ ----------------------------------------------------
     REPORTING       7      SOLE DISPOSITIVE POWER
      PERSON
       WITH                 0
                     ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            725,037
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           725,037
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           5.0%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON*

           OO
---------- ---------------------------------------------------------------------
                      *SEE INSTRUCTION BEFORE FILLING OUT!




-------------------                                           ------------------
CUSIP No. 448947101                    13G                    Page 3 of 10 Pages
-------------------                                           ------------------

---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON
           S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Ivan (John) Mihaljevic
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a) [ ]

                                                                         (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY
---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           Croatia
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            129,350
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             725,037
     OWNED BY
       EACH          ------ ----------------------------------------------------
     REPORTING       7      SOLE DISPOSITIVE POWER
      PERSON
       WITH                 129,350
                     ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            725,037
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           854,387
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           5.9%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON*

           IN
---------- ---------------------------------------------------------------------
                      *SEE INSTRUCTION BEFORE FILLING OUT!





-------------------                                           ------------------
CUSIP No. 448947101                    13G                    Page 4 of 10 Pages
-------------------                                           ------------------

---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON
           S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Mihaljevic Partners LP
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a) [ ]

                                                                         (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY
---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             725,037
     OWNED BY
       EACH          ------ ----------------------------------------------------
     REPORTING       7      SOLE DISPOSITIVE POWER
      PERSON
       WITH                 0

                     ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            725,037
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           725,037
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           5.0%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON*

           PN
---------- ---------------------------------------------------------------------
                      *SEE INSTRUCTION BEFORE FILLING OUT!




Item 1(a):          Name of Issuer:
---------           --------------

The name of the issuer is IDT Corporation, a corporation organized
under the laws of the State of Delaware (the "Company").

Item 1(b):          Address of Issuer's Principal Executive Offices:
---------           -----------------------------------------------

The Company's principal executive office is located at 520 Broad Street,
Newark, New Jersey 07102.

Item 2(a):          Name of Person Filing:
---------           ---------------------

This Schedule 13G is filed by:

          (i)  Mihaljevic Capital Management LLC, a Delaware limited liability
               company (the "Management Company"), which serves as investment
               manager of Mihaljevic Partners LP (the "Fund"), with respect to
               shares of Common Stock (as defined in Item 2(d))
               directly beneficially owned by the Fund;

          (ii) Mr. Ivan (John) Mihaljevic ("Mr. Mihaljevic"), who is the
               managing member of the Management Company and controls its
               business activities, with respect to shares of
               Common Stock indirectly beneficially owned by Mr. Mihaljevic
               by virtue of such position; and

          (ii) Mihaljevic Partners LP (the "Fund"), which is the Fund
               referred to in paragraph (i) of Item 2(a) above, with respect
               to shares of Common Stock directly beneficially
               owned by the Fund.

The Management Company, Mr. Mihaljevic and the Fund are hereinafter sometimes
collectively referred to as the "Reporting Persons." Any disclosures herein
with respect to persons other than the Reporting Persons are made on
information and belief after making inquiry to the appropriate party.

Item 2(b):          Address of Principal Business Office or, if None,
---------           -------------------------------------------------
                    Residence:
                    ---------

The address of the principal business office of each of the Reporting Persons is
141 East 56th Street, Suite 9K, New York, New York 10022.

Item 2(c):          Citizenship:
                    -----------

The Management Company is organized as a limited liability company under the
laws of the State of Delaware. Mr. Mihaljevic is a citizen of Croatia.


                                      -5-




The Fund is organized as a limited partnership under the laws of the State of
Delaware.

Item 2(d):          Title of Class of Securities:
                    ----------------------------

Common stock, par value $.01 per share ("Common Stock").

Item 2(e):          CUSIP Number:
---------           ------------

448947101

Item 3:             If this statement is filed pursuant to Rules 13d-1(b) or
------              --------------------------------------------------------
                    13d-2(b) or (c), check whether the person filing is a:
                    -----------------------------------------------------

               A.   [ ] Broker or dealer registered under Section 15 of the Act,

               B.   [ ] Bank as defined in Section 3(a)(6) of the Act,

               C.   [ ] Insurance Company as defined in Section 3(a)(19) of the
                        Act,

               D.   [ ] Investment Company registered under Section 8 of the
                        Investment Company Act of 1940,

               E.   [ ] Investment Adviser in accordance with Rule 13d-1
                        (b)(1)(ii)(E),

               F.   [ ] Employee Benefit Plan or Endowment Fund in accordance
                        with 13d-1 (b)(1)(ii)(F),

               G.   [ ] Parent Holding Company or control person in accordance
                        with Rule 13d-1 (b)(1)(ii)(G),

               H.   [ ] Savings Association as defined in Section 3(b) of the
                        Federal Deposit Insurance Act,

               I.   [ ] Church Plan that is excluded from the definition of an
                        investment company under Section 3(c)(14) of the
                        Investment Company Act of 1940,

               J.   [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).


                                      -6-




Item 4:             Ownership:
------              ----------

The beneficial ownership of Class A Common Stock by the Reporting Persons,
as of the date of this Schedule 13G, is as follows:

A.   Mihaljevic Capital Management LLC
     ---------------------------------
     (a) Amount beneficially owned: 725,037
     (b) Percent of class: 5.0%. The percentages used herein and in the rest of
         this Schedule 13G are calculated based upon 14,541,723 shares of
         Common Stock stated to be issued and outstanding as of
         June 2, 2008, as reflected in the Company's Form 10-Q, filed
         with the Securities and Exchange Commission on June 6, 2008.
     (c) Number of shares as to which such person has:
         (i)   Sole power to vote or direct the vote: 0
         (ii)  Shared power to vote or direct the vote: 725,037
         (iii) Sole power to dispose or direct the disposition: 0
         (iv)  Shared power to dispose or direct the disposition: 725,037

B.   Ivan (John) Mihaljevic
     ------------------------
     (a) Amount beneficially owned: 854,387
     (b) Percent of class: 5.9%.
     (c) Number of shares as to which such person has:
         (i)   Sole power to vote or direct the vote: 129,350
         (ii)  Shared power to vote or direct the vote: 725,037
         (iii) Sole power to dispose or direct the disposition: 129,350
         (iv)  Shared power to dispose or direct the disposition: 725,037

C.   Mihaljevic Partners LP
     ----------------------
     (a) Amount beneficially owned: 725,037
     (b) Percent of class: 5.0%.
     (c) Number of shares as to which such person has:
         (i)   Sole power to vote or direct the vote: 0
         (ii)  Shared power to vote or direct the vote: 725,037
         (iii) Sole power to dispose or direct the disposition: 0
         (iv)  Shared power to dispose or direct the disposition: 725,037

Item 5:             Ownership of Five Percent or Less of a Class:
------              --------------------------------------------

If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following: [ ]

Item 6:  Ownership of More than Five Percent on Behalf of Another Person:
------   ---------------------------------------------------------------


                                      -7-




Other than as set forth herein, no other person has the right to receive or the
power to direct the receipt of dividends from, or proceeds from the sale of, in
excess of 5% of the total outstanding Class A Common Stock.

Item 7:             Identification and Classification of the Subsidiary Which
------              ---------------------------------------------------------
                    Acquired the Security Being Reported on by the Parent
                    -----------------------------------------------------
                    Holding Company:
                    ---------------

Not applicable.

Item 8:             Identification and Classification of Members of the Group:
------              ---------------------------------------------------------

Not applicable.

Item 9:             Notice of Dissolution of Group:
------              ------------------------------

Not applicable.

Item 10:            Certification:
-------             -------------

Each of the Reporting Persons hereby makes the following certification:

     By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.


                                      -8-




                                   SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.


Dated: September 10, 2008


                                        MIHALJEVIC CAPITAL MANAGEMENT LLC

                                        By: /s/ Ivan Mihaljevic
                                            -----------------------------
                                            Name:  Ivan (John) Mihaljevic
                                            Title: Managing Member


                                        /s/ Ivan Mihaljevic
                                        ----------------------
                                        Ivan (John) Mihaljevic


                                        MIHALJEVIC PARTNERS LP

                                        By: /s/ Ivan Mihaljevic
                                            -----------------------------
                                            Name:  Ivan (John) Mihaljevic
                                            Title: Managing Member of GP









                         [SIGNATURE PAGE TO SCHEDULE 13G
                                 WITH RESPECT TO
                                 IDT CORPORATION]




                                  EXHIBIT INDEX
                                  -------------


Exhibit 99.1:  Joint Filing  Agreement, dated September 10, 2008, by and between
               Mihaljevic Capital Management LLC, Ivan (John) Mihaljevic and
               Mihaljevic Partners LP.