One major deficiency of the groovier-than-thou folks who run Kickstarter and the other crowd funding platforms is how they punt on tax problems of their users (aside from complying with the Prime Internet Directive–making sure that they get their exorbitant fees while assuming no responsibility for anything).
The Internal Revenue Service has posted a handy dandy “Sharing Economy Tax Center” that covers all the Stuff that Lessig Never Told You. You may even be able to find out how Uber manages to never pay unemployment insurance for the drivers they intend to lay off in favor or robots, or just when it suits their strong arm tactics most recently displayed in Austin.
You might also ask why the IRS is bothering to post this all in one place–anyone want to bet a tax fraud crackdown is coming soon?
Here’s a little summary:
The IRS encourages taxpayers working in these areas to understand the potential tax issues affecting them. The IRS is providing additional information to help people, and many tax professionals with tax issues and questions related to this emerging area. The tax software industry is also looking at this area, and many software programs can assist when you do your taxes in 2017.
Among the following tax issues that may apply to those participating in the sharing economy:
Issues for Individuals Performing Services
Employment Tax Issues for the Companies Providing Services