5 ways BofA Rewards can unlock more value

Loyalty programs often reward you for a single type of activity. Airline programs reward flights. Hotel programs reward stays. Credit card rewards programs reward spending.

Bank of America’s BofA Rewards™ program rewards you for your entire financial relationship with the bank, whether you’re making everyday purchases, saving for a big goal or financing major life milestones.

Even better: The program is now more accessible than ever before. Anyone with a Bank of America personal checking account can join — with no minimum balance or enrollment fee required. Your tier is determined by a three-month combined average of daily balances across qualifying Bank of America and Merrill accounts.

Depending on your tier and how you use the program, you can receive between $150 and $4,000 in annual value as a BofA Rewards member, thanks to benefits like credit card rewards bonuses, cash-back deals, loan discounts and enhanced identity monitoring.

Here are five ways the program can help you get more value from the financial decisions you’re already making.

Making a large credit card purchase

Big purchases can be a great opportunity to earn extra rewards.

As a BofA Rewards member, you can earn an additional credit card rewards bonus of 10% to 75% on eligible credit card purchases, depending on your member tier.

Imagine you’re buying a new refrigerator online for $2,000 with your Bank of America® Customized Cash Rewards credit card and qualify for the BofA Rewards Preferred Honors tier.

If you’ve selected “online shopping” as your 3% cash-back category of choice, the card would normally earn you $60 cash back on the purchase. But your Preferred Honors tier adds a 50% credit card rewards bonus, boosting your total cash back to $90 for that single purchase. This combination turns your 3% category into an effective 4.5% cash-back rate — a powerful return on a purchase you were already making.

Reward your inbox with the TPG Daily newsletter

Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts

Woman using her cell phone for a purchase — RISKA/GETTY IMAGES

That means the rewards you earn on your purchase could increase significantly simply by being enrolled in the program.

If you regularly put larger purchases on your credit card — whether they’re home appliances, electronics or travel — those extra rewards bonuses can add up over time.

Shopping online and in-store

Many people already use shopping portals or loyalty programs to stretch their spending a bit further.

As a BofA Rewards member, you’ll have another way to do that through cash-back deals and other discounts available from more than 15,000 popular national and local brands.

These deals allow you to save money when shopping with participating merchants. Plus, if you’re paying with a Bank of America credit card, you can still earn your everyday card rewards.

For regular purchases like clothing, dining, travel and household items, stacking these deals with credit card rewards can make everyday spending more rewarding.

Buying a car

Buying a car is one of the largest purchases many people make. Even a small reduction in a loan rate can make a noticeable difference over time.

As a BofA Rewards member, you’ll receive an interest rate discount on Bank of America auto loans ranging from 0.10% to 0.50%, depending on your tier.

To see how that can add up, imagine financing a $40,000 vehicle with a five-year loan. For example, if your Premier member tier qualifies you for the maximum 0.50% interest rate discount, that could lower a 6% loan rate to 5.5%.

Young beautiful family meeting up with friends for road trip — TANG MING TUNG/GETTY IMAGES

On a loan of that size and length, that half-percentage-point reduction would save over $550 in interest over the life of the loan.

For members already planning to finance a vehicle through Bank of America, that discount can help lower the overall cost of the purchase while rewarding their broader banking relationship.

Purchasing or renovating a home

Homeownership often comes with major financial decisions, from purchasing the property itself to renovating and maintaining it over time.

As a BofA Rewards member, you can receive discounts on mortgage origination fees, saving between $100 and $600 at the Member through Preferred Honors tiers and up to a 0.375% interest rate reduction on a mortgage loan at the Premier tier.

Those savings can help offset some of the upfront costs associated with buying a home.

Eligible clients may also find value when tapping into a home equity line of credit for renovations or other projects. As with the mortgage benefit, these savings are designed to reward customers who deepen their relationship with the bank over time. This benefit becomes particularly valuable for larger projects.

Monitoring for fraud

Financial benefits are important, but peace of mind can be just as valuable.

Unlike fraud alerts tied to a single credit card, BofA Rewards members receive access to newly enhanced fraud and identity monitoring, including features like dark web monitoring, Social Security number monitoring and full-service identity restoration.

Identity theft can be costly and stressful to resolve. Tools like these can help members detect suspicious activity early and respond quickly if an issue arises.

freelancer working on laptop — MASKOT/GETTY IMAGES

For many customers, having these monitoring tools included as part of a broader rewards program adds another layer of holistic value.

Think of it as the foundation that comes with consolidating your finances. While rewards bonuses help you build value, these integrated tools are there to help safeguard them.

Bottom line

The BofA Rewards program is designed to reward customers for their entire relationship with Bank of America, not just a single financial product.

Members can earn extra credit card rewards, access cash-back deals with thousands of brands, receive loan discounts and take advantage of identity monitoring tools. As your financial relationship with the bank grows, you’ll unlock additional benefits — like streaming subscription credits and exclusive entertainment access.

But perhaps the most exciting aspect of the program is its accessibility. Anyone with a Bank of America personal checking account can join the program at no cost, making it easier for more customers to start benefiting right away.

If you want to learn more about how the program works and what benefits you may qualify for, visit the BofA Rewards website.

Banking services provided by Bank of America, N.A., Member FDIC. For full terms and conditions, visit bofa.com/bofarewards.

BofA Rewards™ Eligibility. Customers can enroll and maintain their membership in BofA Rewards™ if they have an open, qualifying Bank of America® checking account. BofA Rewards tiers are based on each customer’s combined average balance in qualifying deposit and investment accounts. The minimum balance for each tier is: Member, no minimum balance; Preferred Plus, $30,000; Preferred Honors, $100,000; and Premier, $1,000,000. When you enroll, you’ll be placed in the appropriate tier for your combined average balance and then moved to the highest tier you’re eligible for based on one of the following:

For the 30 calendar days following your first enrollment, the combined end-of-day collected balance of your qualifying accounts (“Daily Balance”), provided that your Daily Balance remains above the required amount for a minimum of three business days; or
Subsequently, the combined average balance of your qualifying accounts calculated on the third business day of each month.

Eligible customers will be moved to the higher tier within 3 business days. New tier benefits may take up to 30 days to become effective. For full terms, including qualifying accounts and the method of calculation of average balances, refer to your Personal Schedule of Fees.

To participate, you just need an eligible Bank of America checking account. Checking accounts may have a monthly maintenance fee if waiver requirements are not met.

Credit Card BofA Rewards™ Bonus. Certain credit cards are eligible to receive a BofA Rewards™ bonus. Enrolled BofA Rewards members with eligible Bank of America® credit cards can receive a BofA Rewards bonus of 10% for the Member tier, 25% for the Preferred Plus tier, 50% for the Preferred Honors tier, or 75% for the Premier tier. If your card receives the 10% customer bonus, the BofA Rewards bonus will replace the 10% customer bonus. The BofA Rewards bonus for eligible cash rewards credit cards will be applied after all base and bonus cash rewards have been calculated on a purchase. For example, a $100 purchase that earns 3% ($3.00) will actually earn $3.30, $3.75, $4.50 or $5.25 based on your tier when the purchase posts to your account. For all other eligible card types, a purchase that earns 100 base points will actually earn 110, 125, 150, or 175 points, based on your tier when the purchase posts to your account. The BofA Rewards bonus also does not apply to the bonus earn for certain programs and is not applied to any account opening bonus or non-standard rewards that are part of a special offer, unless we indicate otherwise. This information can be found in the Program Rules associated with those credit cards. Other terms and conditions apply. Please refer to your card’s Program Rules for details about how you will receive the BofA Rewards bonus. Program Rules are mailed upon account opening and are accessible through the rewards redemption site via Online Banking or by calling the number on the back of your card. View a complete list of eligible cards.

Source link

Stacie Harris

Stacie Harris is a local resident and reporter of the Maple Grove area. Stacie reports on medicine and science for the Maple Grove Report.

Subscribe to Our Newsletter

Get our latest articles delivered straight to your inbox. No spam, we promise.

New book tells of Minnesota's first Modern architect

Can the IRS Ignore Your Request for an Estate Tax Valuation Explanation? – Houston Tax Attorneys

April 26, 2026

Conflicts and Technology Risk News — “Matters” Matter to Mediator Conflicts, Lawyer Program Involvement and Witness Status Creates Conflict Call and DQ Motion, LegalTech Ice Reputation Risk, AI Hallucinations in the Sky with Diamonds

April 24, 2026

Conflicts — Considering Conflicts Check Responsibilities, Plaintiff Relationships Create Conflicts Call for DQ Motion,

April 23, 2026

Signature Not Required on Tax Return for Criminal Liability – Houston Tax Attorneys

Can the IRS Ignore Your Request for an Estate Tax Valuation Explanation? – Houston Tax Attorneys

April 26, 2026

Conflicts and Technology Risk News — “Matters” Matter to Mediator Conflicts, Lawyer Program Involvement and Witness Status Creates Conflict Call and DQ Motion, LegalTech Ice Reputation Risk, AI Hallucinations in the Sky with Diamonds

April 24, 2026

Conflicts — Considering Conflicts Check Responsibilities, Plaintiff Relationships Create Conflicts Call for DQ Motion,

April 23, 2026

Daniel Radcliffe Reveals His Least & Most Favorite ‘Harry Potter’ Movies | Daniel Radcliffe, Harry Potter | Celebrity News and Gossip | Entertainment, Photos and Videos

Can the IRS Ignore Your Request for an Estate Tax Valuation Explanation? – Houston Tax Attorneys

April 26, 2026

Conflicts and Technology Risk News — “Matters” Matter to Mediator Conflicts, Lawyer Program Involvement and Witness Status Creates Conflict Call and DQ Motion, LegalTech Ice Reputation Risk, AI Hallucinations in the Sky with Diamonds

April 24, 2026

Conflicts — Considering Conflicts Check Responsibilities, Plaintiff Relationships Create Conflicts Call for DQ Motion,

April 23, 2026

Recent Reviews

Signature Not Required on Tax Return for Criminal Liability – Houston Tax Attorneys

One of the requirements for a document to be a tax return is that it is signed by the taxpayer under penalties of perjury. Most tax forms that are intended to be tax returns include a declaration at the bottom that includes the penalty of perjury language.

But most tax returns today are filed electronically. Rather than signing with pen and ink, taxpayers sign online or authorize their tax preparers to use electronic signatures or PINs. The transmission or PIN is the signature.

This begs the question, what happens if the taxpayer goes to a tax preparer and there is no evidence that the taxpayer authorized the use of an electronic signature? Can the taxpayer be held liable for errors or omissions on this type of tax return? Can the taxpayer be charged criminally if the tax return is fraudulent? The recent United States v. Uvari, No. 2:18-cr-00253-APG-NJK-1 (9th Cir. Oct. 10, 2024), court case provides an opportunity to consider this question.

Facts & Procedural History

The taxpayer in this case was a professional gambler. He was charged with filing false tax returns. The court opinion does not say how the returns were fraudulent, but chances are good that there was either omitted income or inflated gambling losses.

The tax return at issue in this case was the taxpayer’s 2011 individual income tax return. The tax return was filed electronically by the taxpayer’s CPA. Rather than having the taxpayer’s physical signature, the return contained only a Personal Identification Number (“PIN”) and the CPA’s Electronic Return Originator (or “ERO”) PIN.

During the criminal tax trial, the government did not produce Form 8879, which is typically used to document a taxpayer’s authorization for electronic filing. The taxpayer was convicted and appealed, arguing in part that the government failed to prove he had verified the return under penalties of perjury.

Filing False Returns

Taxpayers are generally required to file income tax returns. If a return is required, it can be a crime to not file the tax return. But if the return is filed and it qualifies as a tax return, it can also be a crime if the tax return is false or fraudulent.

Section 7206 is the applicable criminal statute. It reads as follows:

Any person who: Willfully makes and subscribes any return, statement, or other document, which contains or is verified by a written declaration that it is made under the penalties of perjury, and which he does not believe to be true and correct as to every material matter; shall be guilty of a felony and, upon conviction thereof, shall be fined not more than $100,000 ($500,000 in the case of a corporation), or imprisoned not more than 3 years, or both, together with the costs of prosecution.

To prove a criminal violation for filing a false tax return under Section 7206(1), the government has to establish several elements. This includes showing that:

The defendant made and subscribed a return that was incorrect as to a material matter,
The return contained a written declaration that it was made under penalties of perjury,
The defendant did not believe the return to be true and correct, and
The defendant acted willfully with intent to violate the law.

This leads to the question as to what counts as a signature on a tax return?

What Counts as a “Signed” Return?

The traditional physical signature has largely given way to electronic filing. As the IRS agent testified in this case, “the IRS won’t receive a pen and ink signature from you in most cases. It’s always signed by a PIN.”

This can happen in two ways: either the taxpayer inputs their own PIN, or they authorize their tax preparer to enter a PIN on their behalf. In either case, there must be a declaration that the return is being signed under penalties of perjury. Typically, when a tax preparer files electronically on behalf of a taxpayer, they should obtain a signed Form 8879, which documents the taxpayer’s authorization to file electronically and use an electronic signature.

On the civil tax side of it, the courts have previously said that signing the Form 8879 does not transfer the obligation to file to the tax preparer and that the taxpayer still has to verify that the e-Filed return was received by the IRS. Thus, taxpayers cannot avoid the late filing penalty when a tax return is not received due to e-Filing mishaps.

This raises an interesting question: what happens when there is no Form 8879? Was the tax return actually filed if the process required for e-Filing was not followed? In this case, the government did not produce this form. This suggests that the form was never signed by the taxpayer. The absence of Form 8879 might seem to support a defense that the taxpayer never authorized the filing.

The Ninth Circuit court did not agree with this. It concluded that the government need not produce Form 8879 if there is other evidence showing the taxpayer authorized the filing.

Other Evidence of Filing

While there wasn’t a Form 8879 in this case, there was other evidence that the taxpayer authorized the filing. The taxpayer wrote a letter to the IRS in 2017 regarding the 2011 tax return. It stated: “I e-filed the original Form 1040 for 2011 on or about February 1, 2012.” This letter was sent to the IRS by the taxpayer to get the IRS to process the tax return.

The government admitted the letter into evidence in the criminal trial. The court found that a reasonable jury could infer from this statement that the taxpayer either filed the return himself or authorized his accountant to file it. This after-the-fact acknowledgment of the filing was sufficient to establish that the taxpayer had verified the return under penalties of perjury.

Comparison to the Non-Criminal Tax Return Rules

The standards to impose criminal liability are generally higher than those on the civil side. This ruling by the court is consistent with the various court’s holdings as to the non-criminal tax return filing rules, but the court cases are varied based on whether the taxpayer benefits or does not benefit from there being a signature on the tax return.

The tacit consent cases provide an example. These cases involve joint tax returns filed by spouses. The cases generally stand for the proposition that one spouse can bind another spouse by signing their name on a tax return. These cases usually involve situations that benefit the IRS as they are cases where the IRS has more than one taxpayer on the hook if the signature is valid.

The signature requirement in cases involving disputes over civil penalties is similar. Signatures are not always required for liability to attach when it comes to civil penalties. For example, the courts have generally concluded that even the tax preparer’s fraud or bookkeeper’s fraud can in some cases be imputed to the taxpayer. Thus, a taxpayer can even be liable for civil penalties even if they did not have any fraudulent intent. This is apparently true even if the return is e-Filed and not formally signed by the taxpayer.

Compare this to the signature requirements for tax refunds. While a spouse can sign a joint tax return for the other spouse, a tax attorney acting under a valid power of attorney cannot sign a Form 843 refund claim for the taxpayer-client. The rules are a little more nuanced than this for refund cases, however. At least one court has said that if the IRS audits a refund claim and does not require a signature on the return, the IRS can waive the requirement that the taxpayer sign the return by processing the return without a signature. While these refund cases usually benefit taxpayers as if the signature is valid the tax refund can be processed and refunds issued, there are exceptions.

The Takeaway

Signature issues abound when it comes to tax returns. The general rule is that signatures are less important when the facts and circumstances are that not having a signature benefits the taxpayer. When the taxpayer needs a signature to obtain some advantage or benefit, the rules are more strict. That lesson is presented again in this case. As explained by this case, taxpayers cannot always escape criminal liability for false returns if they did not physically sign the tax return. This is true even if the tax preparer failed to obtain Form 8879 signed by the taxpayer. The taxpayer’s own subsequent acknowledgment of the filing can supply the requisite authorization and count as a signature under penalties of perjury.