More Bad News On Taxes And Points Amex 1099 S Gift Chain Prizes
When Citibank sent out 1099’s last month to customers who had received 25,000-point sign-up bonuses for opening checking and savings accounts, the whole points community was up in arms. The tension ahs somewhat subsided a bit thanks to the IRS basically saying it plans to take no major actions on this topic for the time being, but I know many people, myself included, are uneasy with the whole situation. Things are ratcheting up again this week since people have been receiving 1099-MISC forms like the one below from American Express for bonuses and gifts earned through the Amex Gift Chain back in December....