AMEX Network "Gift Chain"
Feb 3, 2012, 2:15 am
#181
Join Date: Feb 2011
Posts: 208
"Furnish Copy B of this form to the recipient by..." would make it seem that it must arrive by then. Regardless, I spoke to my accountant today and he said that this will not get us off the hook; all it potentially translates into is a fine for AmEx.
Feb 3, 2012, 6:03 pm
#183
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,954
Feb 3, 2012, 6:16 pm
#184
Join Date: Jun 2011
Location: AL
Programs: All of the Above
Posts: 1,374
Maybe so, but I did purchase items to receive the gifts. I did zero mail in entries. Got 1099's totaling a lot, so they are counting statement credits, etc. I guess it's free money so I can't complain too much, but I'm still not sure about the legalities.
My accountant wasn't 100% sure either, so I'll just let her sort it out. I've put in a call to that department of Am Ex, but just a voicemail. Hopefully I will receive a call back on Monday.
I'm assuming everyone with decent returns has gotten a 1099 also?
My accountant wasn't 100% sure either, so I'll just let her sort it out. I've put in a call to that department of Am Ex, but just a voicemail. Hopefully I will receive a call back on Monday.
I'm assuming everyone with decent returns has gotten a 1099 also?
Last edited by DavidAL; Nov 19, 2012 at 8:18 pm
Feb 4, 2012, 7:08 am
#185
Join Date: Apr 2007
Posts: 6
We posted this on slickdeals so I thought I'd repost here in case it helps someone figure this out. We participated in the gift chain with multiple cards and AU's and kept a very detailed spreadsheet. We just got 1099's for any AU's that received over $600 on all accounts COMBINED. I don't think the account number on the 1099 points to a specific Amex account. Here is an example using my son's winnings. He is an AU on 4 totally different accounts. AND the primary is different on all the accounts! Any winnings that came through with his SSN added to his total.
Bus Gold Rew $155
Prem Rew Gold $155
Delta $192
Travelocity $137
TOTAL = $639
1099-MISC = $639
Bus Gold Rew $155
Prem Rew Gold $155
Delta $192
Travelocity $137
TOTAL = $639
1099-MISC = $639
Feb 4, 2012, 7:44 pm
#186
Join Date: Feb 2011
Posts: 208
Anyone else experience this? I have spoken to a lot of people and so far no one got a "combined" 1099 (except for your son)...
Feb 4, 2012, 8:32 pm
#187
Join Date: Jun 2011
Location: AL
Programs: All of the Above
Posts: 1,374
I'm confused, because the Mrs. and I both got a 1099, and they were for the exact same amount, down to the penny. The odds that both of our cards got exactly equal gifts, is slim to none. The both ended in $4.25.
Feb 4, 2012, 10:35 pm
#188
Join Date: Feb 2011
Posts: 208
Assuming that you each did only one card (or at least only one card per email address), why don't you just add up your gifts from your Gift Chain emails? And fyi they evaluate MR at .09cpm, so 250 MR would be $2.25.
Feb 4, 2012, 10:58 pm
#189
Join Date: Jun 2011
Location: AL
Programs: All of the Above
Posts: 1,374
Easier said than done. Combined we had a lot of cards we used.
Last edited by DavidAL; Nov 19, 2012 at 8:18 pm
Feb 5, 2012, 9:10 pm
#190
Join Date: Feb 2011
Posts: 208
Haha solid. For each card I did, I used the gmail period trick (simpleton "at" gmail.com for my Plat, s.impleton "at" gmail.com for my Gold, etc, and they all go to same simpleton "at" gmail.com inbox).
Last edited by Simpleton; Feb 6, 2012 at 5:01 pm Reason: Break fake email formatting (Sorry mia!)
Feb 8, 2012, 10:56 am
#191
Join Date: Jun 2011
Location: AL
Programs: All of the Above
Posts: 1,374
Got a call back from Am Ex's tax department. They said they would open a case to look into the awarding of prizes. I told them something doesn't add up that both the Mrs. and I received the EXACT amount of prizes, down to the penny. They said they would snail mail me a copy of the breakdown of all the prizes after they complete their investigation.
I didn't beat them up about whether it was taxable or not, just because in the rules and regs it plainly states I have to pay any taxes due on the prizes. So I think I'm stuck paying the taxes, but maybe I can get the amount reduced.
Anyone else gotten through to the tax department?
I didn't beat them up about whether it was taxable or not, just because in the rules and regs it plainly states I have to pay any taxes due on the prizes. So I think I'm stuck paying the taxes, but maybe I can get the amount reduced.
Anyone else gotten through to the tax department?
Feb 12, 2012, 10:41 pm
#193
Join Date: Jun 2011
Location: AL
Programs: All of the Above
Posts: 1,374
It was the number on the 1099. They call me back and said they looked into it and it was off by about $400, but I told them I thought it was off by more than that. They are sending me a full item recap and a new 1099.
Feb 12, 2012, 11:30 pm
#194
Join Date: Feb 2011
Posts: 208
Thanks!
Also, supposedly they won't issue sub-$600 1099s, so if they told you already that they will send you a new one, I'd assume that you are good to file without it.
Feb 13, 2012, 8:42 am
#195
Join Date: Jun 2011
Location: AL
Programs: All of the Above
Posts: 1,374
Very cool. I noticed that number when it came but for some reason I had a mental block from calling it.
Thanks!
Also, supposedly they won't issue sub-$600 1099s, so if they told you already that they will send you a new one, I'd assume that you are good to file without it.
Thanks!
Also, supposedly they won't issue sub-$600 1099s, so if they told you already that they will send you a new one, I'd assume that you are good to file without it.