27 January 2020

IRS launches Gig Economy Tax Center to help gig workers and digital platforms meet their tax obligations

The IRS has announced (IR-2020-04) the launch of its new Gig Economy Tax Center, aimed at helping "people in this growing area meet their tax obligations through more streamlined information." Information available through the Gig Economy Tax Center addresses:

  • Filing requirements
  • Making quarterly estimated tax payments
  • Paying self-employment tax, Social Security, Medicare and Additional Medicare
  • Deductible business expenses
  • Special rules for reporting vacation home rentals

The IRS site also contains information for digital platforms (businesses that match workers' services or goods with customers via apps or websites).

Ernst & Young LLP insights

The launch of these resources is well-timed considering the focus some states (e.g., California and New Jersey) are giving to extending greater labor protections to gig workers.

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Contact Information
For additional information concerning this Alert, please contact:
 
Workforce Tax Services - Employment Tax Advisory Services
   • Kenneth Hausser (kenneth.hausser@ey.com)
   • Debera Salam (debera.salam@ey.com)
   • Kristie Lowery (kristie.lowery@ey.com)

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ATTACHMENT

EY Payroll News Flash

Document ID: 2020-0193