The 680 ohm resistor (used for limiting the power from 12V source to safe value for telephone electornics) causes some problems because it causes imedance mismatch to the telephone line. If this causes problems, you can add a capacitor to the circuit which makes sure that the circuit apperas to be like piece of wire in voice frequencies you can avoid mismatch caused by that 680 ohm resistor.
I added a 22 ohm resistor in series with the capacitor to limit the surge current which appears when the equipments go on-line. For normal FAX to modem usage this modification should not be necessary because equipments should be able to cope with those impedance mismatches the original circuit causes.