Sentences with phrase «flier miles taxable»
See related: Are business card flier miles taxable?
https://www.creditcards.com/ Not exact matches
As one example, Citibank reportedly has issued 1099s (which report taxable income to both the taxpayer and the IRS) on frequent flier miles given as a bonus for opening a bank account.
-- When cashing in frequent flier miles, it's important to know whether the IRS considers them gifts or taxable income.
(Generally, the answer is no, frequent flier miles are not taxable income.)
And just in case you're curious about the tax liability of frequent flier miles, here's where it stands: They are not considered to be taxable income.
When frequent flier miles are provided as a premium for opening a financial account, it can be a taxable situation subject to reporting under current law.
«When frequent flier miles are provided as a premium for opening a financial account, it can be a taxable situation subject to reporting under current law,» IRS spokeswoman Michelle Eldridge said in a statement e-mailed to CreditCards.com.