Wicliff Yves Fleurizard, 26, was arrested Sunday after he was found hiding in the lavatory on a Delta flight from Salt Lake City to Austin.
If you’re a freelancer or gig worker paid via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change for the 2024 tax year.NEW YORK — Workers across different industries are increasingly receiving some or all of their income via apps. They include tutors, graphic designers, hair stylists, and all kinds of independent and self-employed workers, along with merchants who sell products online through Etsy, eBay, Amazon and other sites.
But beginning next year, that threshold will be just $5,000, which will eventually be lowered to $600. Freelancers, gig workers, and online sellers owe taxes on their income regardless of whether they meet the reporting threshold to use 1099-K forms, but it can be difficult to keep track of every payment, especially across sites and apps. This can lead to confusion and underpayment, experts say.
Currently, if someone paying a freelancer via Venmo, Zelle, or CashApp sends a form to the IRS reporting that pay, but the freelancer doesn’t report the income with the same form, that creates a “matching error” for the agency. The change will ensure both that taxpayers receive proper refunds and that the IRS receives proper payment.
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