Understanding Gig Economy and Taxation

What percentage of 16 to 24-year-olds were employed in July 2022 according to the Bureau of Labor Statistics?

• 45.3%

• 55.3%

• 65.3%

• 75.3%

What form do companies use to report payments to gig workers?

• W-4

• 1099

• 1040

• W-2

Which year did the IRS delay the reporting of business transactions over $600 on payment platforms?

• 2022

• 2023

• 2021

• 2024

What was the standard deduction for single tax filers in 2023?

• $15,650

• $14,750

• $13,850

• $12,950

By what date must taxes typically be filed each year?

• April 20th

• April 18th

• April 15th

• April 10th