Chase Business Bonus Blues: Keep an Eye on Your Account!
Published on December 14, 2025, 9:20 PM
Heads up, awardtrail readers! If you recently snagged a sweet bonus for opening a Chase Business checking account, you might have noticed a surprise debit. Chase is apparently withholding 24% of the bonus amount to cover estimated IRS taxes. So, if you scored that $500 bonus, expect to see around $120 disappear as "FEDERAL INTEREST WITHHELD."
Why is this happening? Usually, banks only withhold taxes if you tell them you're subject to backup withholding (meaning you're not paying your taxes correctly). But in this case, Chase is doing it regardless, which is a bit unusual. The good news is many readers are now reporting that they have received the withheld tax amount back in their account. It might show up as a direct deposit, or a paper check.
Don't panic! It seems like a minor hiccup. Just make sure you've got enough funds in your account to cover the debit so you don't overdraft. Most importantly, keep a record of this withheld amount when you file your taxes so you are not paying taxes twice.
