En esta noticia
The summer season has begun, and many seasonal workers have already started looking for temporary jobs to make the most of this period. In light of this, the Internal Revenue Service (IRS) reminds them that they must keep a record of the earnings they obtain during the year.
The IRS warns that this is important because even occasional income can create tax consequences, and failing to record it can lead to fines and penalties.
The Government issued a warning for everyone who works this summer: the IRS recommendation
The agency advises keeping receipts for:
- Income
- Expenses
- Payments received
This helps maintain accurate records to avoid mistakes when filing a tax return. It is worth remembering that all taxable income must be reported and declared as appropriate, even if it comes from a temporary job.
How do you report income earned during the summer?
Seasonal workers must keep the previously mentioned documents and also any form given to them by the corresponding employer, such as:
- Form W-2
- Form 1099
This is necessary because if the worker had tax withholding during the summer, they may be entitled to receive a refund after filing the tax return.
What type of jobs qualifies for this?
The IRS recommendation applies to both traditional employees and independent workers:
- Temporary jobs in stores, restaurants, and hotels
- Seasonal work related to tourism.
- Childcare (babysitting)
- Pet walking and pet care
- Gardening and maintenance of green spaces
- Private lessons or tutoring
- Freelance work and professional services
- Activities carried out through digital platforms
For those who work for themselves, income could be subject to income tax and also to other taxes related to Social Security and Medicare.