News & Analysis as of September 19, 2024

Income Taxes › Gig Economy

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

IRS Updates FAQs on 1099-Ks Used for Gig Workers and Others

Littler on 2/8/2024

The IRS recently updated its guidance for completing Form 1099-K, used primarily by “gig” companies providing compensation using payment apps or online marketplaces and for individuals selling goods on online marketplaces...more

Tax Tips for New College Graduates

Bowditch & Dewey on 6/22/2023

As new college graduates cross the stage to receive their diplomas, many will also be heading to their first full-time jobs. There are some tax tips new graduates can implement early on that will help with savings in the long...more

Weekly IRS Roundup March 27 – March 31, 2023

McDermott Will & Emery on 4/4/2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 27, 2023 – March 31, 2023...more

New Stimulus Package Creates New Tax Reporting Requirements for Gig Economy Businesses

Fisher Phillips on 3/29/2021

Gig economy businesses might be unaware of a new requirement in the latest American Rescue Plan stimulus package that is designed to help workers keep track of and correctly pay their taxes each year. The new requirement is...more

The Latest COVID-19 Stimulus: Highlights of Key Tax Provisions in the American Rescue Plan Act of 2021

Gould + Ratner LLP on 3/19/2021

The American Rescue Plan Act of 2021 (ARPA, 2021) was signed by President Biden on March 11, 2021 to address the continuing economic impact on employers and employees the coronavirus (COVID-19) pandemic has posed. The ARPA...more

Serbia’s New So-called 'Independence Test'

Ogletree, Deakins, Nash, Smoak & Stewart,... on 6/22/2020

The latest amendments to the Law on Personal Income Tax in December 2019 introduced an obligation to apply and implement the so-called “independence test” for entrepreneurs....more

Weekly IRS Roundup January 6 – January 10, 2020

McDermott Will & Emery on 1/14/2020

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 6 – January 10, 2020. January 6, 2020: The IRS issued a News Release confirming that the...more

NJ DOL Bills Uber $650M for Misclassified Drivers

Ballard Spahr LLP on 11/20/2019

The New Jersey Department of Labor (NJ DOL) billed Uber Technologies, Inc. and a subsidiary $650 million for past-due taxes, interest, and penalties due to an alleged misclassification of its drivers as independent...more

Restructuring Operations in the Wake of California AB 5? Don’t Overlook the Tax Implications

Littler on 10/30/2019

Businesses with operations in California have begun to identify options and implement strategies for compliance with Assembly Bill (AB) 5, which imposes the ABC test for identifying whether a worker is an independent...more

Do Not Apply AB 5 Too Broadly

Best Best & Krieger LLP on 10/22/2019

Perhaps the biggest news coming out of California’s Legislature this year was the passage of Assembly Bill 5 – the new law that codifies the 2018 Dynamex case and which imposes a new test for determining employee or...more

IRS Misclassifications and Costly Penalties: Independent Contractor or Employee?

Burr & Forman on 7/17/2019

Failing to properly classify an individual as an independent contractor can result in expensive penalties to the employer – imposed by both the United States Department of Labor and the Internal Revenue Service. As it...more

Taxation & Representation - May 2019 #2

Brownstein Hyatt Farber Schreck on 5/29/2019

Tax Tidbit - Regulators have until June 22 to finalize guidance on the Tax Cuts and Jobs Act (P.L.115-97). The 18-month mark since the legislation was signed into law is quickly approaching. The Treasury Department and...more

IRS is on to Self-Employed Taxpayers

Foodman CPAs & Advisors on 3/18/2019

On February 14, 2019, the TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION (TIGTA) released the Report “Expansion of the Gig Economy Warrants Focus on Improving Self-Employment Tax Compliance”. ...more

Call for Federal Legislative Changes Growing in the Gig Arena

Fisher Phillips on 1/15/2019

As I wrote previously, it is no secret that labor laws have been unable to keep pace with the changing economy, despite challenges from the bench to address the needs of the gig economy. Certain state legislatures (e.g....more

What is your Work Status? Employee or Independent Contractor?

Foodman CPAs & Advisors on 10/24/2018

Worker classification or work status has an effect on how a Taxpayer will pay federal income taxes, social security and Medicare taxes, and how a Taxpayer files a tax return. ...more

Keystone State Targets the Gig Economy: Pennsylvania’s New Nonemployee Withholding and Reporting Requirements

Ogletree, Deakins, Nash, Smoak & Stewart,... on 6/15/2018

On October 30, 2017, Governor Tom Wolf of Pennsylvania signed into law Act 43 of 2017. This new law provides that beginning July 1, 2018, Pennsylvania businesses that pay at least $5,000 in Pennsylvania-source nonemployee...more

Labor Department Initiative Could Permit Gig Workers To Obtain Healthcare Benefits

Fisher Phillips on 1/9/2018

Among my list of “must-read” workplace law summaries is the weekly “Punching In” column put out by Chris Opfer and Ben Penn over at Bloomberg Law’s Labor and Employment Blog every Monday morning. This week’s edition contains...more

UK: The Biggest Shake Up of Employment Law in a Generation?

Littler on 7/19/2017

On July 11, 2017, the UK government published the Review of Modern Working Practices. The report was issued by Matthew Taylor, chief executive of the Royal Society of Arts and a former policy chief to Tony Blair. Current...more

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Income Taxes › Gig Economy

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