Charged Federal Interest on new Chase Disney Checking Account? - Page 2 - The DIS Discussion Forums

disney1990 · 10-05-2012, 05:55 PM

Quote:

Originally Posted by bettymae1121

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.

Bell30012 · 10-05-2012, 06:34 PM

Maybe it is different in other states or areas but Chase didn't withhold anything from my reward.

chabs · 10-05-2012, 07:12 PM

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.

Where'sPiglet? · 10-05-2012, 07:23 PM

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.

mom2alix · 10-06-2012, 11:18 PM

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

Jex · 10-07-2012, 10:23 AM

Are you a US citizen? Did you fill out a w9?

Where'sPiglet? · 10-07-2012, 12:00 PM

Quote:

Originally Posted by mom2alix

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

Quote:

Originally Posted by Jex

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.

chabs · 10-07-2012, 07:12 PM

Quote:

Originally Posted by Where'sPiglet?

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.

10-05-2012, 06:34 PM	#17
Bell30012 DIS Veteran Join Date: Mar 2005 Location: Monroe, Georgia, USA Posts: 1,690	Maybe it is different in other states or areas but Chase didn't withhold anything from my reward. __________________ Secret Message---><---What we all hear in our dreams

10-05-2012, 07:12 PM	#18
chabs DIS Veteran Join Date: Jun 2005 Posts: 925	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. __________________

10-05-2012, 07:23 PM	#19
Where'sPiglet? I'm going to try something different this month Do I LOOK like I know what I'm doing Join Date: Dec 2007 Location: New Orleans Posts: 5,140	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. __________________ 10/92 Yacht Club ~~ 11/96 Disney Institute ~~ 12/00 Yacht Club ~~ 6/05 Beach Club ~~ 8/06 Shades of Green 8/07 Caribbean Beach ~~ 10/07 Coronado Springs ~~ 12/08 French Quarter ~~ 3/10 All Star Sports ~~ 2012: I don't think you took a picture of that...yet! 1987, 1997, 2002, 2008, 2010, 2013 ~*~ Disneyland

10-06-2012, 11:18 PM	#20
mom2alix I know he is always on my side How fun! I'll play! Join Date: Sep 2003 Posts: 1,837	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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10-07-2012, 10:23 AM	#21
Jex Mouseketeer Join Date: Nov 2009 Posts: 387	Are you a US citizen? Did you fill out a w9?