As New Economy Surges, IRS Falls Further Behind

IRS caught unprepared for the tectonic shift in the income-tax landscape.

By Rick Telberg
CPA Trendlines

The gig economy is big and getting bigger. It’s service providers are making real money, but they’re often as lost as an Uber driver with a dead phone.

SPECIAL REPORT – Fixing the IRS: IRS #FAILs at Online Services Spell Problems for Professionals | Tax Accountants Fill the Breach of a Failing IRS | Beware the EZ Way Out | Can the IRS Improve Its Phone Service? | When Clients Face ‘Unreal’ IRS Audits | IRS Warns about Private Debt Collectors for Tax Season 2018 | Underfunded IRS Swamped with Problems | IRS in Retreat from Communities | Military Personnel Face New Battles at Home: The IRS | As New Economy Surges, IRS Falls Further Behind | Is the IRS Winning the Battle Against Identity Theft? | IRS Mulls Raising Fees to Cover Budget Shortfalls |

More at taxtrendlines.com

Exclusively for PRO Members. Log in here or upgrade to PRO today.

The gig economy, also known as the sharing economy, is that market of “collaborative consumption” typified by Uber, Lyft, AirBnB, Etsy, TaskRabbit, and many others. Such services are typically coordinated by a website that links customers with service providers, yielding a good deal all around: somebody gets a cut-rate service, and somebody gets the flexibility of part-time self-employment.

But that latter somebody might need somebody else to advise them on tax compliance.

Posted on March 20, 2018

Rick Telberg

About the Author

Rick Telberg is a veteran analyst, advisor, commentator, editor, and publisher. He brings a unique background and perspective to research and advisory services for the professional services community.

Mr. Telberg may well be the accounting profession's most widely-known commentator through his long associations with the American Institute of Certified Public Accountants, Accounting Today magazine, and today, CPA Trendlines.

As an expert in management, marketing, media, and e-commerce, Mr. Telberg has served as Senior Editorial Director of Pro2Net Corp., now www.smartpros.com, and as Director of Online Content at CPA2Biz, www.cpa.com.

Previously, Mr. Telberg served as the early Editor-in-Chief of Accounting Today, and as Vice President/Group Publisher at Thomson Financial (now SourceMedia), overseeing Practical Accountant, Accounting Technology, and what is now AccountingToday.com.

Mr. Telberg was presented with a special citation by the National Society of Accountants for service to the profession and has served on a variety of boards and steering committees, including BKR International and the IBM Small Business Advisory Council. He is a graduate of New York University.

Click here for more by Rick Telberg

TO READ THE FULL ARTICLE

Continue reading your article with a CPA Trendlines Pro membership.