{ "media_type": "text", "post_content": "How would you feel if IRS started taxing rewards points?", "post_id": "5917d1efca390a00169865eb", "reply_count": 16, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

How would you feel if IRS started taxing rewards points?

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Taxation is theft.

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I would ask for more points to counteract the loss of income. The market always compensates

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I doubt they would be able to tax them, because most are considered a rebate for paying back spending on the card. They would have to tax all rebates if that were the case.

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Not really possible - they'd have to be for a set value, and reward points' worth can vary based on how you spend them. There's really no published amount that says, for example, 100 points are equal to 1 dollar, or something. At least, this isn't yet done on all points.

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I'd cutta bisch

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This is common practice already in Europe right? Hence the high feeds on many European carriers award flights?

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Secede*

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i would sucede from the union

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😭😭😭 its imminent as it becomes more mainstream

I'd sue the hell out of those communists.

If they do then they have to store the points collected. If they store it then they have to use it to pay their dues. If they do that, then points will become alternate currency, a current printed by Marriott, spg, delta and handed out to consultants

@D2, no. Those aren't the points being taxed. The fees on an EU carrier flight are things like fuel duty, APD, etc., and the tax rules require that they be paid with cash.

Cash back is a rebate and not income, so IRS can go .....

Most points also have no inherent value per the legalese so I'm not sure how they could sue

Sorry how they could tax them

Once spent, they could be taxed as income based on true value received

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