The IRS is clear about when you have to pay taxes on your side gig: Once you make $400

AP/Brennan Linsley

• If you're a gig worker, the IRS is expecting you to pay federal income taxes on any dollar you earned above $400 throughout 2019.
• The IRS classifies gig work as "providing on-demand work, services, or goods" for additional income not related to W-2 employment.
• This includes, but is not limited to, driving for a ride-share company, delivering food or groceries, selling goods on digital marketplaces, or renting out your home.
• You can visit the IRS' new Gig Economy Tax Center page for more information on filing your taxes as an independent contractor.
• Read more personal finance coverage.

The gig economy is integral to millions of Americans' livelihood, and the IRS is itching to take its share.

On Thursday, the government agency launched the Gig Economy Tax Center on its website, an informational hub for part-time, temporary, and contract workers seeking guidance on whether they have to pay taxes on their income. If you earned more than $400 from side jobs in 2019, the answer is yes.See the rest of the story at Business Insider

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