MARK KOHLERMain Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, LLC · Owner at Main Street Professionals, LLC

The IRS Refund Trap 1099 Owners Are Missing

5 Apr 2026 · 1 min

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In this segment, Mark Kohler urges W‑2 employees who expect a tax refund to file their returns promptly rather than filing an extension, framing the extension as an interest‑free loan to the IRS. He highlights that 75% of taxpayers who file extensions are business owners, underscoring the growing prevalence of side‑gig income—over 50 million Americans now receive a 1099. For those filing a Schedule C, Kohler points out the opportunity to claim additional write‑offs, positioning side‑gig earners as small‑business owners who should be proactive about tax planning.

Chapters

Why continue to give the IRS an interest-free loan? If you've got a day job with a W-2 and they've been withholding and there's a good chance you're going to get a refund like last year, then move quickly. Let's get your tax return filed. Let's get that refund. Why continue to give the IRS an interest-free loan? But again, another interesting statistical fact is that 75% of those people filing an extension are business owners. Now, if you even had a side hustle or a side gig last year, and it's estimated over 50 million Americans now have a 1099 from a side gig. Well, that's a small business. You're filing a Schedule C, a Schedule C as in Charlie. You're now in that bucket of looking for additional write-offs.