If you made money from a full-time job or a side hustle last year, then you’re required to report those earnings on your 2021 income tax return. The IRS also offers several resources to help gig workers meet their tax obligations.
You may or may not receive an information return; however, all earnings from gig work are taxable. The law concerning Form 1099-K also changed for payments received in 2022 to totals exceeding $600, regardless of the number of transactions. For income earned in 2021, the reporting requirement was $20,000 in aggregate payments and 200 transactions.
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