WASHINGTON — In recognition of National Small Business Week — April 30 to May 6 — the Internal Revenue Service is highlighting products to help small business owners and self-employed individuals understand and meet their tax obligations. Some of these tools focus on an emerging area of business activity — the sharing economy – also referred to as the on-demand, gig or access economy.
People involved in the sharing economy engage in activities such as renting a spare bedroom, providing car rides or offering a number of other goods or services. Because there are tax implications for companies providing the services and individuals performing the services, the IRS has created the following special products to help these businesses and workers understand their tax responsibilities:
Other Small Business Products
The IRS provides an overview of other products in a newly created YouTube video. Some featured products for small business owners and self-employed individuals are: