Because of widespread confusion about tax-reporting requirements, users of “on-demand economy” platforms such as Airbnb and Lyft are underreporting billions in income to the Internal Revenue Service, according a new report from the Kogod Tax Policy Center at American University.
The report, “Shortchanged: The Tax Compliance Challenges of Small Business Operators Driving the On-Demand Platform Economy,” is based on a survey of 518 self-employed workers.
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