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.

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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.