The IRS has issued a notice to “gig economy” service workers and those who receive a foreign source of income that they have to report potential tax obligations on income.
An IRS statement issued on March 1 states that taxpayers have to report income from the gig economy on their tax returns, “even if the income is from part-time, temporary, or side work; paid in any form, including cash, property, goods or digital assets; not reported on an information return form like a Form 1099-K, 1099-MISC, W-2, or other income statement.”
