IRS Tax Guide for Reporting Tip Income, Publication 531 (2019)
IRS Tax Guide for Reporting Tip Income, Publication 531 (2019)

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This publication is for employees who receive tips. All tips you receive are income and are subject to federal income tax. You must include in gross income all tips you receive directly, charged tips paid to you by your employer, and your share of any tips you receive under a tip-splitting or tip-pooling arrangement. The value of noncash tips, such as tickets, passes, or other items of value, is also income and subject to tax. Reporting your tip income correctly isn’t difficult. You must do three things.

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  • Released: September 23, 2017
  • Author: U.S. Internal Revenue Service (IRS)
  • Rating: 5
  • Publisher: Ebook Store Group
  • Total Page: 209 pages
  • File Size: 2291 KB
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