White paper

The gig economy and
lower 1099-K thresholds

What practitioners need to know

As tax and accounting professionals are well aware, the American Rescue Plan Act of 2021, which was signed into law March 2021, brought significant changes to gig workers and the organizations they work through. Tax practitioners may be up to speed on the changes that took effect for the 2022 tax year, but many clients working in the gig economy may be in for a surprise come filing season when they will be getting Forms 1099-K for the first time in 2023.

This represents real opportunities for practitioners to proactively advise these taxpayers and help them prepare and navigate the complex tax rules to minimize their tax liability.

To help practitioners, this white paper will further explore the changes and the actionable steps they can take to help clients. By the end of this white paper, you should:

  • Discover what’s changed with form 1099-K
  • Learn more about tax and the gig industry
  • Explore a plan on how to best advise the gig economy

Ready to read more?

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