The Economic Times News

Gig workers win big: Trumps new rule is a game-changer for anyone with a side hustle - here are the details

Gig workers win big as IRS restores 1099-K $20,000 limit for 2025 taxes: IRS 1099-K change 2025 makes side hustles simpler. If you earn extra cash from gig work or online sales, the threshold is back to $20,000 and 200 transactions. Casual sellers and part-time gig workers likely wont receive a 1099-K unless they hit those numbers. The 2021 $600 rule caused confusion and unnecessary forms. All income is still taxable, but the new limit reduces paperwork and stress. Platforms like PayPal, Venmo, and online marketplaces will only report serious business income.