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IRS Delays Forcing Gig Workers to Report over $600 Threshold of Payments 

The IRS has delayed forcing gig workers to report payments over the $600 threshold made through third-party payment apps like Zelle, Cash App, Venmo, and PayPal. announced this week.

The rule’s extension is a victory for gig workers who hold multiple jobs to make ends meet in President Joe Biden’s struggling economy.

Sixteen percent of Americans participate in the so-called “gig economy,” but not all of those surveyed are paid through third-party apps, Pew Research found. found.

“It is clear that an additional delay to the 2023 tax year will avoid problems for taxpayers, tax professionals, and others in this area,” IRS Commissioner Danny Wuerfel said in a statement.

The delay could cost the Treasury about $2 billion. wall street journal report:

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