It’s Time for a Mid-Year Tip Check

August 2, 2017By Jean Hagan

It’s time to do an analysis of your tip reporting status. The filing of form 8027 for tipping establishments is calculated on an annual basis and reported to the IRS in February. A mid-year tip check gives you some time to correct any issues you may have with individual employees or your employee group as … Read More

Mid-Year Tip Check

July 6, 2016By Jean Hagan

At this middle point of the year, it is extremely important to analyze where you stand with your employee tip reporting. Following IRS standards, all tips received by employees should be reported through payroll. Any deviation from actual tips received and tips reported will cause a payroll tax liability. The IRS rarely goes after individual … Read More