LPM TAX Services

We are here to keep you informed!! PLEASE READ BELOW......

The IRS is cracking down on "Side Hustle Income" this tax season!

What is side hustle income? Side hustle income is any money earned outside of a normal W2 paycheck. This includes earnings from:

* Gig economy platforms: Uber, Lyft, DoorDash, Instacart
* Selling platforms: eBay, Etsy, Facebook Marketplace, Amazon
* Freelancing work: Design, editing, coding, marketing, consulting
* Social media income: YouTube, TikTok, affiliate income, sponsorship income
* Cash jobs and cash payment platforms: Venmo, PayPal, Zelle. The IRS expects all income received in exchange for a product or service to be reported, regardless of whether it was part-time, occasional, seasonal, or a hobby

It doesn't matter if the income was part-time, occasional, seasonal, or from a hobby; if income was received in exchange for a product or service, the IRS expects it to be reported. Platforms, marketplaces, payment processors, and banks all create records of transactions. The IRS uses a matching strategy where they compare what you report on your tax return with what third parties report about you. Mismatches trigger an automated flag.

Make sure to report any deposits you receive for a product or service so the IRS do not get a flag and you don't get an IRS letter.

Let's work together to make this tax season as smooth as possible!

Even though the 1st filing date isn't until February 12th, I am still collecting your information to get you in the system and among the FIRST to get your returns.

If you have your financial documents, contact me TODAY! If you are still waiting for your financial documents, you can still contact me to get your basic information in the system. Let me help you get the MAXIMUN REFUND!!