[vkou]

If you aren't doing anything untoward (like getting paid wages under the table, using a digital payment system and not reporting it[1]), this doesn't change how you file taxes. It's simply a data-point that the IRS will cross-reference, to see if you are being honest with your filing.

[1] If you're doing that, you should, like, stop. I'm not a lawyer and this is not tax advice, but you should probably stop.

[CincinnatiMan]

If you decide to clean out the junk from your closets, you now have to report that income along with documentation showing you sold it at a loss. Not very fun.

[thathndude]

The lawyers would tell you to stop, but then go back to their office and do some tax evading.

I’m only sort of joking, the IRS has historically scrutinized attorneys more than other professions.