Tax Tips

Have your records organized to make preparing a tax return easier. It may also help you discover potentially overlooked deductions or credits.

Include in your tax records:

• Forms W-2 from employers
• Forms 1099 from banks and other payers
• Other income documents and records of virtual currency transactions.

View your account information to see information from your most recently filed tax return.

Notify the IRS if your address changes and notify the Social Security Administration of a legal name change.

Remember, most income is taxable. This includes:

• unemployment income,
• refund interest,
• income from the gig economy, and
• virtual currencies.

Gig work is a type of income-earning activity that's often done through a digital platform, such as an app or website. Gig workers are independent contractors who provide services to clients through formal agreements with on-demand companies. 

Examples of gig work include: 

• Driving for a rideshare company or delivering food
• Renting out a property or part of it 
• Running errands or completing tasks
• Selling goods online
• Renting equipment
• Providing creative or professional services
• Tutoring students online
• Working as a freelance graphic designer
• Working as a web developer

Gig workers can choose jobs that match their interests, preferences, and schedule. They can also work at their own pace. 

Some examples of gig economy platforms include: 

• Airbnb: A      marketplace for short-term lodging 
• TaskRabbit: A      platform where users can hire people to complete small tasks and errands 
• Gig apps: Provide access to work, such as delivering food between      classes or marketing skills to clients 

Some of the highest-paying gig economy jobs include: 

DoorDash, UberEats Delivery Driver, Uber Driver, Grubhub, Lyft, Instacart, Roadie, and Taskrabbit.