Millions of gig workers and sellers that use payment networks like PayPal, Venmo and Zelle look set to get a tax form in the new year that they haven’t received before – unless a corporate lobbying push is successful.
Millions of gig workers and sellers that use payment networks like PayPal, Venmo and Zelle look set to get a tax form in the new year that they haven’t received before, unless a corporate lobbying push is successful.
Supporters of the shift say it’s about helping workers document their income so they can later get Social Security and other benefits, while critics have described it as burdensome or a “cash grab.” The group says it supports bills put forth by some lawmakers that aim to raise the 1099-K reporting threshold to $5,000 or even put it back at $20,000, saying the measures “represent a starting point for a bipartisan compromise.”
Labor is likely to lobby on the other side of the issue, as unions have the view that anything that facilitates reliance on a gig-economy model is bad for workers’ rights and hinders their organizing efforts, according to Marcus.
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