Chase 1099-MISC

[chayal101]

letter is dated 7/30 and says you should be receiving 1099 by 7/30? then you got it on 8/12?

correct!! And @CV I have no idea how this is calculated. Is it only for referral bonus points? That wld add up to 3 referral bonus (20k each on Ink) which I believe is correct.

[LoLo]

Got 1099 for a retention offer 🙄

[Dan]

Got 1099 for a retention offer 🙄

Insane. Anyone else?

[theyankel]

Got 1099 for a retention offer 🙄

did they notify you that you would be getting 1099? you can demand them to correct it and listen to the voice call to verify you were not properly notified if that is the case

[yelped]

Insane. Anyone else?

I thought this was only for referral bonuses. Logically it doesn't make sense to have to pay taxes on a retention bonus.

[Yehuda25]

Got 1099 for a retention offer 🙄

Yuck

[Dan]

I thought this was only for referral bonuses. Logically it doesn't make sense to have to pay taxes on a retention bonus.

+1

[LoLo]

I guess that's why they always say that it's not a credit for the AF, rather a courtesy credit.

Didn't require any spend, maybe offers with spend requirements are considered purchase rebates.

[Dan]

Are you sure it wasn't for referrals? Have you called to inquire?

[LoLo]

Yep, was told this is for a retention offer.

Anyway, this is not new, been reported in Feb already, #2: https://www.doctorofcredit.com/chase-sending-out-1099-for-other-bonuses-too-such-as-paperless-bonus-retention-bonus-etc-also-mistakenly-coding-500-points-as-500/

They also sent me a personal 1099 for referrals on a corp cc. go figure. what a sh*tshow this whole thing has been.

[LoLo]

did they notify you that you would be getting 1099? you can demand them to correct it and listen to the voice call to verify you were not properly notified if that is the case

I asked the rep repeatedly, it got to a point where every question i asked was answered with the same thing "ask your tax advisor". regardless of what i asked.

There no one at chase to talk to about anything.

[Dan]

File a CFPB complaint.

[LoLo]

Iirc, chase doesn't look favorably at customers filing CFPB complaints. Not worth the hassle and risk.

[yitzf]

did they notify you that you would be getting 1099? you can demand them to correct it and listen to the voice call to verify you were not properly notified if that is the case

There is no IRS requirement that they need to notify you, and if their accountants feel that the need to send you one they will. Your only avenue it to try to get them to cover your loses but they aren't going to take back the 1099.

[yosefsv]

There is no IRS requirement that they need to notify you, and if their accountants feel that the need to send you one they will. Your only avenue it to try to get them to cover your loses but they aren't going to take back the 1099.

-1
"Furnish Copy B of this form to the recipient by January 31, 2019. The due date is extended to February 15, 2019, if you are reporting payments in box 8 or 14."
https://www.irs.gov/pub/irs-prior/f1099msc--2018.pdf

[yitzf]

-1
"Furnish Copy B of this form to the recipient by January 31, 2019. The due date is extended to February 15, 2019, if you are reporting payments in box 8 or 14."
https://www.irs.gov/pub/irs-prior/f1099msc--2018.pdf

That's the deadline by when they need to provide you with the 1099. They still don't have to notify you at the time of the transaction that you'll be getting a 1099.
Even if they miss the deadline, they still have to provide it to you.

[theyankel]

That's the deadline by when they need to provide you with the 1099. They still don't have to notify you at the time of the transaction that you'll be getting a 1099.
Even if they miss the deadline, they still have to provide it to you.

+1

That's the deadline by when they need to provide you with the 1099. They still don't have to notify you at the time of the transaction that you'll be getting a 1099.
Even if they miss the deadline, they still have to provide it to you.

they might just get a fine from IRS if anything for sending it late to you. i dont even know if that much
they dont have to notify but if they are offering something which they deem has value, similar to those account opening bonuses of $500-600 where they do indeed disclose that you might get a 1099, so to here they should

[MrKaplan]

How are they reimbursing the amended tax filing fee?

Anyone get reimbursed?

[yosefsv]

Lo and behold the 1099 arrived today... $600.

Is the amount reported in box 3 or box 7?

[chayal101]

Is the amount reported in box 3 or box 7?

#3- other income $600