Gig economy information and resources available for you and your clients August 2019 Tax News

Here at the FTB we would like to remind you of the many resources that are available regarding the gig economy or shared economy. The FTB and our Education and Outreach team have made a concerted effort to look into ways in which we could help get information out to those that are using gig economy platforms such as Uber, Lyft, Airbnb, Postmates, etc. Multiple studies have shown that a large percentage of those working for these platforms don’t know enough information about their potential tax filing requirements. We understand that our most informed customers/taxpayers are the ones that are the most compliant. Consequently, we looked for ways to help inform those that work in the gig economy of their possible filing requirements and the resources that are available to them.

One of the tools that the FTB created to help inform people about the gig economy was to publish and launch a gig economy webpage to provide valuable information and useful links about the tax aspects of the gig economy. This webpage also includes a link to our Tax News Live Video on YouTube that discusses the gig economy and possible filing requirements. This video was created by the Taxpayers’ Rights Advocate’s Office and features our Small Business Liaison.

Also, last year we attended 126 different education and outreach events where we presented information that included income tax filing requirements for those involved in the gig economy. We presented to various tax practitioner groups and at small business seminars throughout the state. At small business seminars, we include information and resources about the gig economy and discuss the different Forms of Ownerships for businesses. This includes information for sole proprietors, partnerships, corporations, and limited liability companies.

Finally, we continue to use all the various social media outlets available to us to share information. This includes Facebook, Twitter, YouTube, etc., which are valuable tools to keep gig economy participants informed.