Credit Card Rewards Used for Money Order or Debit Card Purchases Are Income

In brief, if you use rewards points to purchase other cash equivalents rather than products or services, the value of the rewards points is taxable. The Tax Court recently ruled that rewards dollars that a married couple earned by using their American Express credit cards to purchase debit cards and money orders—but not to purchase […]

Credit Card Rewards Used for Money Order or Debit Card Purchases Are Income Read More »