Thanks for visiting FatWallet.com. Join for free to remove this ad.
posted: Nov. 30, 2016 @ 11:27p
Pay your taxes deadbeats? RE: cash back, the IRS views it as a discount IIRC, no?
Senior Member - 9K
posted: Dec. 1, 2016 @ 8:39a
nsdp said: Are credit Card Cash back programs next? Not if they are points/miles and not CASH
Senior Member - 2K
posted: Dec. 1, 2016 @ 2:07p
Cash back from credit cards is considered a rebate so as such not as income. Regular cash back is linked to spending so kinda easier to see it that way. Now cash sign-up bonuses they could try to claw back.
But then, it'd be a mess with points/miles to attribute a cash value to those because in most cases, it depends upon actual form of redemption. But I'm guessing this is a drop in the bucket that's not worth the hassle.
For bitcoin, I think they're trying to get at the shadow economy. Look at the situation in India for proof of how it can affect tax revenues (although not due to bitcoins there). Bitcoin transactions are not there yet but I'm not surprised they'd want to control them and get tax revenues on them if possible.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
Earn Cash Back while you shop - just 3 simple steps.
1. Sign Up so we know who to pay! (It's FREE.)
2. Shop through FatWallet for deals from your favorite stores. Your online purchases earn Cash Back that builds in your FatWallet account.
3. Get Paid by requesting a payment via check or PayPal.
FatWallet coupons help you save more when shopping online. Use our Coupons Search to browse coupons and offers from thousands of stores, gathered into one convenient location.
As part of our FatWallet Community, you can share deals with almost a million shoppers in our forums. Forum content is generated by consumers for consumers. Share deals, money-saving tips, and more. It's FREE, fun, and addicting.
Our customer experience team is here around the clock - real people ready to assist.