Posts tagged "self-employment tax"

Gig Workers and Self-Employment Tax Compliance a New Focus for the IRS

The Treasury Inspector General for Tax Administration (TIGTA) recently reported on self-employment tax compliance in light of the growth of the gig economy. The IRS last estimated that self-employment taxes accounted for $69 billion of the annual tax gap. TIGTA reviewed Forms 1099-K for tax years 2012 through 2015 issued by the top nine payer companies participating in the gig economy. Over 260,000 instances of potentially underreported payments were identified, and the number of discrepancies increased 237 percent from 2012 to 2015. Due to the large volume of discrepancies identified, the IRS' Automated Underreporter (AUR) program declined to work on 59 percent of total cases, including over 2,800 taxpayer cases in which there was potential underreporting for all four years of Forms 1099-K reviewed. The total potential payments related to those taxpayers was $2.7 billion.

Contact the Law Office of Williams & Associates

For more information about our tax law services, or to discuss your tax matter, call our Sacramento office at (916) 488-8501 or toll free at (800) 684-7147. You may also send us an inquiry via email.

Contact the Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Best Lawyers Best LAW FIRMS U.S.News and World Report

Office Location:

3600 American River Drive, Suite 135
Sacramento, CA 95864

Toll Free: 800-684-7147
Phone: 916-488-8501
Fax: 916-488-8196
Sacramento Law Office Map