In many cases, yes. American Express may issue a tax form if you earn enough referral bonuses in a calendar year, and the IRS can consider those rewards taxable income. If you earn significant referral bonuses, it’s worth consulting a tax professional.
Depending on the card you carry and the current offer attached to your account, referral bonuses can be quite lucrative — especially if you regularly recommend cards to people in your orbit anyway.
Referral offers change frequently and vary by account, but the process itself is simple. Here's how American Express referrals work and how to maximize them.
A great solo travel tip spotted this week on The Points Guy Articles.
