It’s crunch time for these Lyft drivers, as there are only less than two weeks left before they file their tax returns. Or, they face heavy fees. Here’s the scoop.
Less than 2 weeks left
If you are driving for Lyft – or even for Uber, or making deliveries for DoorDash or Instacart – then, you just have two weeks to file your 2025 state and federal income taxes before paying hefty fees if you don’t.
Now, this is a pre-requisite, since these drivers, delivery riders, and delivery staff are still classified as independent contractors, rather than regular employees.
What’s even more alarming is that around 70 percent of gig workers are not aware of these filings.
Tax Day 2026 is this April 15th.
The procedures
Don’t worry if you belong to that 70 percent, since the Lyft official website has stipulated information for taxpayers.
For instance, they are helping simplify the tax season by introducing two methods for you to select from. First is the standard mileage method, and the other is the actual expense method.
“A set rate covers all your car expenses and doesn’t require you to manually track expenses or receipts. You can deduct 70 cents for every mile you’ve driven with Lyft,” stated Lyft. “Gather your receipts and add up the following costs. The percentage you use for work can be deducted.”
Tax information for drivers in the USA can go to this page.
To file tax income returns this year, you must secure statements related to self-employment and gig work, like driving for Uber and Lyft, or delivering for the food and drink delivery apps, to be able to file your income tax returns for this year.
The big gig work outlets, remember, won’t provide you witha W-2, since gig workers are regarded independent contractors and not direct-hire employees.
There are steps to satisfy here:
- Keep and collect records related to gig work income and expenses
- Pay estimated taxes owed, if there are
- Get ready to file taxes
The forms that needed to be secured are:
- Form 1099-K, Payment Card and Third Party Network Transactions
- Form 1099-MISC, Miscellaneous Income
- Form W-2, Wage and Income Statement
- Form 1099-NEC, Nonemployee Compensation
Southwest credit cardholders now earn more points on Lyft
These Southwest credit cardholders are celebrating, since they are now eligible to earn more points on Lyft.
Specifically, Southwest Rapid Rewards Priority Credit Card and Southwest Rapid Rewards Performance Business Credit Card will now earn five times the total points per dollar spent on Lyft rides.
Meanwhile, Southwest Rapid Rewards Plus Credit Card, Premier Credit Card, Southwest Rapid Rewards Premier Business Credit Card, and Plus Business Credit Card earn three times the total points per dollar spent on Lyft rides. Not so much like the previous, but still acceptable.
Keep ordering rides on Lyft. Sign up here today, and on the Ridesharing Forum website, to learn more.