IRS eases tip reporting rules
- Alternative agreement reached on reporting of restaurant tips. // Practical Accountant;Jul95, Vol. 28 Issue 7, p60
Reports on the Internal Revenue Service's (IRS) issuance of a Market Segment Understanding with the food service industry on tip reporting under its Tip Rate Program intended to ensure maximum compliance by employees of food and beverage establishments with the Code. Tip Rate Alternative...
- SUPREME COURT APPROVES IRS METHOD FOR EMPLOYER FICA ON TIPS. Maples, Larry; Fesler, R. Dan; Morris, Edwin B. // CPA Journal;Apr2003, Vol. 73 Issue 4, p54
Reports on the U.S. Supreme Court's approval of the U.S. Internal Revenue Service's method for employer Federal Insurance Contributions Act (FICA) taxes on tips. Legal provisions on tip taxation; Implications of the case.
- FICA taxes assessed on unreported tips. // Practical Accountant;Dec98, Vol. 31 Issue 12, p22
Discusses the ruling on the United States Internal Revenue Service's case against The Bubble Room Inc., concerning FICA taxes assessed on unreported tips. Background on the case; Aggregate method used by the IRS in assessing the tax on unreported tops.
- NRA gives thumbs down on new IRS tip reporting plan. Romeo, Peter // Nation's Restaurant News;9/25/2006, Vol. 40 Issue 39, p6
The article reports on the National Restaurant Association's (NRA) opposition to the United States Internal Revenue Service's tip reporting program scheduled for implementation in January 2007. According to the NRA, the program fails to address the shortcomings of earlier plans to gauge servers'...
- Court: IRS must confirm tip total before taxing it. Papiernik, Richard L. // Nation's Restaurant News;11/4/96, Vol. 30 Issue 43, p1
Reports on a Florida court ruling favoring Bubble Room Inc. in its challenge to the US Internal Revenue Service's (IRS) method of using employer-only audits to collect the tip tax from the restaurant owners. Implications of the ruling for restaurant operators; Details of the IRS's taxation of...
- SUPREME COURT TIPS BALANCE IN FAVOR OF THE SERVICE BY AUTHORIZING AGGREGATE ASSESSMENT OF UNREPORTED EMPLOYEE TIPS: UNITED STATES v. FIOR D'ITALIA, INC. Goldberg, Stephen // Tax Lawyer;Jun2002, Vol. 55 Issue 4, p971
Discusses the U.S. Supreme Court's decision on the Fior d'Italia Inc. case which held that the Internal Revenue Service is authorized to impose a Federal Insurance Contributions Act tax on a restaurant based on an aggregate estimate of the unreported tips of the restaurant's tipped employees. ...
- IRS seeks positive return from US Court of Appeals in tip-tax suit. Allen, Robin Lee // Nation's Restaurant News;05/05/97, Vol. 31 Issue 18, p10
Reports that the US Court of Appeals for the 11th Court appears likely to reverse an earlier court victory for the foodservice industry, which struck down the Internal Revenue Service's ability to assess employers for only unreported tip taxes. Increasing the chances that many operators will be...
- HERE'S A TIP. Szabo, Joan // Entrepreneur;Oct2002, Vol. 30 Issue 10, p58
Reports on the U.S. Supreme Court ruling affirming the U.S. Internal Revenue Service's right to charge restaurants additional Social Security taxes if the agency believes employees are under-reporting their tips. Facts of the case; Claims of the restaurant industry against the agency.
- Two restaurants file suit over IRS tip-tax process. Allen, Robin Lee // Nation's Restaurant News;02/16/98, Vol. 32 Issue 7, p1
Focuses on the lawsuits filed by officials of restaurants Fior d'Italia in San Francisco, California and Coco Pazzo in Chicago, Illinois questioning the US Internal Revenue Service's methodology of assessing employers for back Social Security taxes on tips without first assessing employees. ...
- Congress eyes tip rule. // Crain's New York Business;8/2/93, Vol. 9 Issue 31, p25
Reports on a possible change regarding the tip rule in restaurants by Congress. Income tax deduction for any Social Security taxes restaurants pay on employee's tips; Restaurant owners upset by the move to cut the deduction from 50% to 80%; Options considered to soften impact of provision.