Millions of Americans earn money through the sharing and freelance economies, and the number of participants in those economies is expected to grow. The lack of automatic tax withholding from many of the participants in these new economies, along with novel compensation arrangements, has given rise to significant compliance issues for the Treasury. Further, the lack of IRS guidance to participants in the sharing economy has increased compliance risk and has also failed to inform market participants of potential tax benefits to which they may be entitled. This presentation will discuss the potential tax pitfalls and tax benefits for participants in the sharing and freelance economies.
Josh Wu advises large corporations, mid-size businesses, startup companies, and high-net-worth individuals on all aspects of federal tax law. He has particular experience with resolving complex IRS audits, administrative appeals, civil tax litigation, offshore trusts and assets, multijurisdictional investigations, and IRS collection matters.
Josh represents clients in an array of tax controversies and tax litigation matters before the Internal Revenue Service (IRS), the U.S. Tax Court, the U.S. Court of Federal Claims, and the U.S. Court of Appeals for the Federal Circuit.
He regularly helps clients respond to IRS information document requests, manage electronic discovery, prepare for interviews with the IRS, and navigate procedural issues.
Prior to joining Clark Hill Strasburger, Josh worked for several international law firms, including Latham & Watkins LLP, and has been quoted in major news outlets such as The Street, Federal Tax Weekly, and Business News Daily.