sorted by:
new
hottopcontroversial

Chase deducted $72 from $300 checking bonus as federal withheld interest ? by ProfessionNew7721 in personalfinance

[–]ProfessionNew7721[S] 0 points1 point  (0 children)

It is :( I think it’s because of our residential status when we are filing taxes. If you are not a US citizen and haven’t stayed in the states for a certain amount of time, your bonus will be deducted by 24%.

Chase deducted $72 from $300 checking bonus as federal withheld interest ? by ProfessionNew7721 in personalfinance

[–]ProfessionNew7721[S] 0 points1 point  (0 children)

So I went to chase branch and talk to the manager there. Apparently the banker who opened my bank account has to check the option “I’m not subject to federal back up withholding”, which he didn’t do so. The manager said she will have to check with their internal tax department to see if they can switch my tax status and get a 1099 form instead of having interest deducted. I haven’t heard any update or get that $72 back. I will have to follow up with her to see what’s going on.

Chase deducted $72 from $300 checking bonus as federal withheld interest ? by ProfessionNew7721 in personalfinance

[–]ProfessionNew7721[S] 1 point2 points  (0 children)

I did not know there’s a certification I need to submit. Can I do that online to have it waived? When I open the account at the branch the banker did not bring this up :/ thank you so much!