If you’re a freelancer or gig worker paid via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change for the 2024 tax year.
NEW YORK — Workers across different industries are increasingly receiving some or all of their income via apps. They include tutors, graphic designers, hair stylists, and all kinds of independent and self-employed workers, along with merchants who sell products online through Etsy, eBay, Amazon and other sites. But tax law is still catching up when it comes to how best to report this income.
The changes were supposed to take effect for the 2023 tax year, but they have been delayed. The tax filing deadline is April 15.
Some in the space say the new law will benefit both freelancers and the IRS by improving information gathering, especially for people who are self-employed and merchants who sell online.
Freelancers, gig workers, and …
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