How to Pay for Tax Cuts? Look to Airbnb Hosts and Etsy Vendors

Bloomberg – July 21, 2017

Airbnb Inc. hosts and Etsy Inc. vendors who have avoided taxes on income from the sharing economy might have to start sharing more with the Internal Revenue Service. Federal rules don’t require such companies to withhold any income taxes on the payments they route to people who provide services or sell items via their online platforms. The companies do have to notify the IRS about some participants’ earnings — but only if they exceed $20,000 and conduct more than 200 transactions a year.

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