Did you get a 1099-K? New IRS rules will impact millions of gig workers and freelancers

Get the Full StoryThe proliferation of third-party payment apps combined with a lower income threshold set by the IRS means you may receive a 1099-K this year. Here s how it may affect your 2024 tax return.

Somewhere between 25 and 35 of working Americans are gig workers either as a supplement to their primary income or as their full-time job. And for many gig economy workers, cash apps and marketplaces offer a simple and convenient way to receive payments. Enter the IRS form 1099-K.

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