For 1099 gigs, Instawork does not take out any taxes from your pay.
For the shifts you worked in 2020, you (as a professional) will receive a 1099 tax form by January 31, 2021, if you earned $600 or more. The 1099 tax form will be delivered electronically to your email via tax1099.com, unless you've opted for delivery via mail. You'll need to file the 1099 tax form and pay taxes on your income on your own.
If you did not meet the $600 in 2020 required to receive a 1099 tax form, you are not relieved from the obligation to report and pay taxes for income received through the Instawork platform.
For more information, visit the IRS website about gig economy workers and 1099 information.
For W2 gigs, Instawork does take taxes from your pay. You will receive weekly paystubs if you worked a W2 gig which will reflect the deductions from your pay.
By January 31, 2021, Professionals who worked W2 gigs will receive an electronic W2 tax form via ADP, unless you opted for delivery by physical mail.
Professionals will need to file the W2 form with their tax return.
Ensure Your Personal Information is Up-to-date
In order to ensure correct reporting, your Instawork account MUST have a valid social security number and complete address.
How to access your 2021 tax forms:
Click here for more information on accessing your electronic W2 tax forms.
Click here for more information on accessing your electronic 1099 tax forms.
For any additional questions, please contact Support via the app or firstname.lastname@example.org
We are not tax lawyers and we're not giving advice on how to handle your taxes. We simply want you to be aware of what you'll need to do at the end of the year.