The IRS has pretty much come to the conclusion that "rebates" such as you describe are, essentially, reduction in the cost of the items purchased. Accordingly, the only effect of these rebates would be a reduction of purchases that were expensed as deductions. All the other stuff - your big screen TV, groceries, subscriptions to Time magazine - are irrelevant. You won't be getting a 1099-MISC from the credit card companies. (Yet.)
Tom Young
