Cashback from Rho is not considered taxable and we do not issue 1099s for cash back. We, of course, encourage our clients to consult their own tax adviser if they have any questions or concerns.
Are Cashback Rewards Taxable?
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Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank, N.A., member FDIC; savings account services provided by American Deposit Management Co. and its partner banks. Mastercard® and the circles design are trademarks of Mastercard International Incorporated. International and foreign currency payments services provided by Wise US., Inc. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and is subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party.
Images used are for illustrative purposes only.
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