Beginning January 1, 2023, the IRS will require payment processors like Venmo, Cash App, and Zelle to issue a 1099-K for business transactions totaling $600 in a year.
Regulatory sandboxes are a solution that Libertas Institute has researched extensively, and we stand ready to help your state pursue this reform opportunity as we have with Ohio.
The DOL’s proposed rule, reclassifying many independent contractors in the gig economy as employees, will complicate the relationship between gig workers and their customers — resulting in fewer jobs, reduced income, and less economic opportunity.
Underneath the legal issues and political problems, what is most interesting is that platforms like Uber and Lyft actually agreed to pay for statutorily mandated benefits because the cost of reclassifying workers as employees was even greater.
I started talking to my rideshare drivers as often as they would let me. Their stories, world views, and reasons for driving have been diverse and surprising. Eventually, their stories led to what is now our Future of Work project — with the addition of benefit portability to better suit a gig work lifestyle.
