Get 2003 Form 8027t. Transmittal Of Employer's Annual Information Return Of Tip Income And Allocated

Employers must annually report to the IRS receipts and tips from their large food or beverage establishments. Employers use Form 8027 to report that information. In addition, employers use Form 8027 to determine allocated tips for tipped employees.

Filers of Form 8027 may be required to file electronically. Treasury Regulation Section 301.6011-2 provides that any person, including a corporation, partnership, individual estate, or trust, who is required to file 10 or more information returns, must file such returns electronically.

For purposes of Form 8027, the customer for whom a work site employee performs services (that is, the employer who operates a large food or beverage establishment) is considered the employer and must file Form 8027. The CPEO must furnish to the customer any information necessary to complete this form.

If your employer allocated tips to you, the allocated tips are shown in box 8 of your Form W-2. The allocated tips aren't included in box 1 with your wages and reported tips. Allocated tips are amounts your employer assigned to you in addition to the tips you reported.

Employers use Form 8027 to: Annually report to the IRS receipts and tips from their large food or beverage establishments. Determine allocated tips for tipped employees.

Who must file. You must file Form 4137 if you received cash and charge tips of $20 or more in a calendar month and didn't report all of those tips to your employer. You must also file Form 4137 if your Form(s) W-2, box 8, shows allocated tips that you must report as income.

All cash and non-cash tips an received by an employee are income and are subject to Federal income taxes. All cash tips received by an employee in any calendar month are subject to social security and Medicare taxes and must be reported to the employer.

Employers use Form 8027 to: Annually report to the IRS receipts and tips from their large food or beverage establishments. Determine allocated tips for tipped employees.

Form 8027 is a tax form used by employers in the food and beverage industry to report tip income received by employees. Its primary purpose is to ensure that all tip income is accurately reported, as tips are considered taxable income by the IRS.