Are You Ready to Give Your Tax Returns to Amex?
American Express has begun demanding that some of their customers send in copies of their personal tax returns or face a cancellation of their account. These US tax returns are then sent to India for review.
Customers who refused to send copies of their personal tax returns to American Express have had their accounts closed with prejudice. They lose any reward points they may have accumulated, are required to immediately pay off the balance of any revolving credit, and have a negative report sent to the credit rating agencies, which results in a drop in their credit score. If they fail to immediately pay off the revolving credit in full, they are sent to collections and face additional penalties.
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