The Blind Spot In A Sharing Economy: Tax Collection

A loophole is helping gig-economy workers, online sellers and home-sharing hosts cheat on their taxes.

Under a law enacted in 2008 and later clarified by the Internal Revenue Service, many online-platform businesses that connect buyers and sellers and take credit-card payments, such as Airbnb, TaskRabbit, Etsy and ride-sharing firms, fall into a special category.

These businesses have to report a provider’s income to the IRS...

Source : https://www.wsj.com/articles/the-blind-spot-in-a-sharing-economy-tax-collection-1495186206