Redemption of credit card reward point is a taxable income: US Court

In an interesting ruling, the United States Tax Court held that the redemption of credit card reward points, which are earned from buying ‘cash equivalents’, shall be liable to tax. The Court held that reward received in connection with the purchase of gift card constitutes rebate. However, buying money order and reloading cash into debit cards is nothing other than cash transfers.

from taxmann.com News https://ift.tt/3fOBQqx