Matters Pecuniary ... credit cards, banking, debt management, |
Why you shouldn’t care if a bank or credit card company will issue a 1099
In the bonus churning world, there’s far too much concern about whether or not a bank or credit card company will report a bonus payment to the Internal Revenue Service (IRS) and issue a 1099. Though they’re likely in the minority, there are some people who wonder if a 1099 will be issued because they’re legitimately unsure if the bonus is taxable. For those people, a tax advisor can provide guidance. But, more often than not, the person inquiring is very much aware that the bonus is taxable and they’re just trying to determine if they …