Update 8/13/19: Chase is apparently considering a statement credit which offsets the annual fee (e.g. via retention offer) to be 1099 income as well. (via safxtacy) Other things like mortgage rebates and bonuses count as well.
Update 8/12/19: Looks like the corrected forms are finally being sent out. Hat tip to d0ctorofdebit
Update 8/2/19: A number of readers reported receiving this letter today, despite Chase stating that a corrected form would be sent by July 30th. It seems to be affecting Chase Ink Preferred cardholders that received any referral bonus for 2018.
Original Post:
Chase has sent out an physical letter to some account holders letting them know that they sent out an incorrect 1099-MISC form in late January and will be sending a corrected form by July 30th, 2019. For people affected this means they will need to file an amended tax return, Chase is offering to pay any fees you pay for filing this amended return.
It would be nice of Chase to include what error was made to help consumers. It would also be nice for them to send the correct information in the first place. I’m not even sure what the error was this time, back in February they had to send out corrected 1099-MISC forms because they reported a $5 paperless bonus as $500. I get that mistakes happen, but this is ridiculous. I also don’t think that just agreeing to pay for the amended filing fees is enough in this case given the time it will also take for people to rectify Chase’s mistake.
Hat tip to Lttruong
