Anyone get hit with a 1099 MISC from Amex?
I made a couple of referrals with my spouse last year but I haven't gotten anything yet. I saw initial reports mentioning tax forms were being sent out to everyone, even if people owed less than $600 but I think it now looks like they'd only gotten some of the tax forms (one for each card) and that combined, they're being taxed on more than $600. At least that's what I'm hoping, since I'd be pretty annoyed at being taxed for 40k Hilton points (although at least the 1.25 cpp for Hilton points initial reporting was wrong). If this sticks and they don't send 1099 forms for under $600, then it'll definitely be something to take into consideration - maybe better to stop referring when you get close to $600 unless you expect to rake in a lot more referrals that year.
So strange that they would put in this new amazing referral system and then ding everyone who used it successfully.
I made a couple of referrals with my spouse last year but I haven't gotten anything yet. I saw initial reports mentioning tax forms were being sent out to everyone, even if people owed less than $600 but I think it now looks like they'd only gotten some of the tax forms (one for each card) and that combined, they're being taxed on more than $600. At least that's what I'm hoping, since I'd be pretty annoyed at being taxed for 40k Hilton points (although at least the 1.25 cpp for Hilton points initial reporting was wrong). If this sticks and they don't send 1099 forms for under $600, then it'll definitely be something to take into consideration - maybe better to stop referring when you get close to $600 unless you expect to rake in a lot more referrals that year.
So strange that they would put in this new amazing referral system and then ding everyone who used it successfully.