Originally Posted by
mvoight
IMHO, it is not up to the bank to tell people they can be taxed for incentives for opening a checking account. I predict the winners in this case will be the plaintiff lawyers.
But, did Citibank actually tell people about what they would pay in taxes, or just provide a 1099 with their assessment of the value of what they gave (same as a toaster or $50) with the standard "we are not tax experts" disclaimer. In the latter case, I'd say that the suit is without merit. In the former, it's more interesting.
Cheers.