<A rebate received by a buyer from the party to whom the buyer directly or indirectly paid the purchase price for an item is an adjustment in purchase price, no

<A rebate received by a buyer from the party to whom the buyer directly or indirectly paid the purchase price for an item is an adjustment in purchase price, not an accession to wealth, and is not includible in the buyer’s gross income.> Exactly. The author misread "the party to whom the buyer directly or indirectly paid the purchase price for an item". That's for when you receive a rebate from the merchant or manufacturer, not a card issuer. For example, if you buy a major appliance and put it on your card and that maker sends you a $100 rebate (in whatever form), that is not a taxable event.