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Are Fee Waivers Tax Reportable

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Question: 
We are considering giving ATM surcharge refunds to a specific group of customers. Would we be required to report these refunds to the customer (and IRS) as income on a 1099INT or 1099-MISC?
Answer: 

No. The waiver of a fee is not a taxable event for the customer.

First published on BankersOnline.com 10/4/04

First published on 10/04/2004

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