Are AMS points considered taxable income in the U.S?
Although AMS Points have no cash value and expire, points issued in exchange for services performed in the U.S. are considered to be taxable income by the Internal Revenue Service. The calendar year in which the points are issued in return for services performed is the year such points should be reported as taxable income. The calendar year in which the points are used by the recipient is irrelevant for U.S. tax purposes Accordingly, whenever an individual is issued points totaling $600 or more in exchange for services performed for the Society in the U.S., the Society will file a Form 1099-MISC showing the total of such points issued with the IRS and the individual, shortly after the calendar year ends in accordance with IRS Regulations and deadlines.
