Southern West Virginia News

Today, Congresswoman Carol Miller from West Virginia reintroduced the Saving Gig Economy Taxpayers Act. This bill aims to revert the 1099-K threshold level back to $20,000 and 200 transactions, countering the changes made under the American Rescue Plan by Democrats. The current policy imposes a tax increase on Americans and gig workers by setting a lower threshold of $600. Miller is supported by 24 Republican colleagues from the Ways and Means Committee as original co-leads.

"For the last four years, Americans have been uncertain about how much they owe in taxes because of the Democrats’ unnecessary changes to the 1099-K threshold," stated Congresswoman Miller. She explained that this change affects people who use online payment platforms for selling goods or services, making them subject to receiving 1099-K forms from the IRS even for minor transactions.

The Coalition for 1099-K Fairness expressed their support for Miller's initiative: “With the start of the 119th Congress, the Coalition once again expresses our gratitude to Representative Carol Miller for her unwavering leadership on the Saving Gig Economy Taxpayers Act.” They emphasized that this bill would relieve millions of casual sellers and small businesses from excessive tax form burdens when no taxable income was generated.

Amanda Anderson from Block Inc highlighted its significance: “The Saving Gig Economy Taxpayers Act represents a significant step towards alleviating the unnecessary burden on Cash App’s microentrepreneurs." Etsy also supports raising this threshold permanently, stating through Jeffrey Zubricki that it could prevent barriers for small e-commerce businesses.

Ashley Shillingsburg from eBay noted that "the Saving Gig Economy Taxpayers Act will help millions of Americans who turn to platforms like eBay to sell used goods around their house."

Congresswoman Miller’s bill previously passed through committee in an earlier session. In April 2023, an IRS commissioner acknowledged that reverting back to a higher threshold might be necessary. This legislative move continues efforts initiated by Miller last year following these developments.