How do rewards companies avoid filing 1099s on the rewards they give out?
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My understanding is that if I, as a company, pay anyone more than $600 in rewards, compensation, etc within a fiscal year, I am required by the IRS to file a 1099 for that individual. How do large rewards companies avoid (or deal with) this?
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Answer:
My CitiBank rewards card tells me I can earn "at most $300" per calendar year, no matter how much I use my card. Or am I missing something?
Barry Carter at Quora Visit the source
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