Originally Posted by
Skytizen
Happened to me.. Chase did not provide an explanation of how they arrived at the significant "income" they generated... they OUGHT to.
If you want to avoid an audit, regardless of the publication, just pay the tax was the CPA advice.
thanks for the reference to the IRS publication.
I personally would pay for now but still write to Chase by paper mail. Ask them to issue a corrected 1099, document the points account, and reference the IRS. When they finally do, file a 1040-X. I got TD to issue a corrected 1099 for something odd, although it wasn't points.