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Old 10-05-2012, 05:55 PM   #16
disney1990
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Originally Posted by bettymae1121 View Post
I got a $150 bonus from Chase two different times for opening an account but they didn't withhold the taxes, I just got a 1099 at tax time and had to claim it as income so it was taxed when I filed.
Me too.
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Old 10-05-2012, 06:34 PM   #17
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Maybe it is different in other states or areas but Chase didn't withhold anything from my reward.
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Old 10-05-2012, 07:12 PM   #18
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They are supposed to be sending me a form to fill out so that I can get my money back. We don't have a Chase branch around us, so I opened the account online. There could have been something in the very fine print, but I didn't see it nor did I see any forms to opt out.
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Old 10-05-2012, 07:23 PM   #19
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One of my savings accounts withholds the tax every month on the interest. It's absolutely ridiculous. For example, I get 40 cents and they'll withhold 12 cents of that.
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Old 10-06-2012, 11:18 PM   #20
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This is backup withholding. It sounds like you missed checking the box on the W-9 saying you weren't subject to it. Here's a link with more explanation:
http://www.irs.gov/taxtopics/tc307.html
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Old 10-07-2012, 10:23 AM   #21
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Are you a US citizen? Did you fill out a w9?
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Old 10-07-2012, 12:00 PM   #22
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This is backup withholding. It sounds like you missed checking the box on the W-9 saying you weren't subject to it. Here's a link with more explanation:
http://www.irs.gov/taxtopics/tc307.html
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Originally Posted by Jex View Post
Are you a US citizen? Did you fill out a w9?
I don't know if you're asking me or the OP, but I don't recall filling the W9 out. I opened the account years ago, but they only started withholding the federal taxes several months ago.

And yes, I am a US citizen, born and raised.
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Old 10-07-2012, 07:12 PM   #23
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Originally Posted by Where'sPiglet? View Post
I don't know if you're asking me or the OP, but I don't recall filling the W9 out. I opened the account years ago, but they only started withholding the federal taxes several months ago.

And yes, I am a US citizen, born and raised.
Me too and they did not ask me to fill out a W-9. I did everything online.
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