Restaurant Tip Reporting 101: Year-End Compliance with Form 8027
Restaurants that serve food and beverages where tipping is customary have specific year-end reporting requirements — and Form 8027 is […]
IRS Form 8027
IRS Form 8027 vs. Form 4070: What Restaurant Employees and Owners Need to Know
For restaurant owners and employees, tip reporting is essential for both tax compliance and avoiding penalties. Two key IRS forms
Are small businesses exempt from filing Form 8027?
Many small businesses wonder whether they need to file IRS Form 8027, the Employer’s Annual Information Return of Tip Income
Does Form 8027 apply to food trucks, catering services, or delivery-only businesses?
IRS Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips, generally does not apply to food trucks,
What Are Cash Tips, and Are They Included in Form 8027 Reporting?
Cash tips are gratuities customers give directly to employees. They can be in the form of bills, coins, or checks.
What is the difference between gross receipts and total receipts?
When filing IRS Form 8027, it’s important to understand the difference between gross receipts vs total receipts. Both terms apply
What Is Considered a Large Food or Beverage Establishment Under Form 8027?
The IRS defines a large food or beverage establishment under Form 8027 based on employee count. Specifically, the business qualifies
Directly vs. Indirectly Tipped Employees: Key IRS Differences
The IRS distinguishes between directly tipped employees and indirectly tipped employees based on how tips are received and reported. Knowing
Form 8027 Reporting Requirements for Employers
Form 8027 reporting requirements apply to certain businesses in industries where tipping is customary. The IRS uses Form 8027, Employer’s
What is Form 8027 and Who Needs to Submit One?
Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips, is a form used by certain employers in