Bloomberg Tax
March 11, 2021, 3:00 PMUpdated: March 11, 2021, 7:15 PM

The Stimulus Bill’s Tax Change for Gig Workers: Explained (2)

Lydia O'Neal
Lydia O'Neal

Buried in the latest stimulus measure is a provision intended to help gig economy workers correctly pay their taxes and keep the IRS from losing out on hundreds of millions of dollars in annual revenue.

The bill that President Joe Biden signed into law Thursday will amend the tax code to require Uber, Lyft, and other platform companies to tell more contract workers how much money they have made on those platforms, starting with the 2022 tax year. In many cases under prior law, they have only had to report the incomes of people with a very large number of ...

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