Are you part of the “gig economy?” Many people earn money as independent contractors by providing on-demand work, goods or services. If so, the IRS wants to remind you that money earned in the gig economy is taxable. It’s common for gig work (including driving a car for booked rides, renting out property and selling goods online) to be acquired using digital platforms. Payment may be by cash, credit, virtual currency or something else. If your gig income exceeds $600, you may receive a Form 1099-K. You may also have to make quarterly estimated tax payments and pay employment tax on your gig activity income. Here’s more: https://bit.ly/3pssmZE
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