Form 8027

Form 8027

A form that a restaurant or bar files with the IRS to report all tips reported by employees. All employees who receive $20 or more in tips per month must report tips to their employer, who in turn reports this information to the IRS.
References in periodicals archive ?
* Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips
On its Form 8027, the amount of tips reported by the workers was less than the amount of tips reported on charge sales alone.
Each year Fior filed Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips.
Fior D'Italia had fulfilled all the duties the law imposed by compiling and making accessible to the IRS (on form 8027) its records of all tips employees reported on their forms 4027.
Source Income of Foreign Persons; Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips; Form CT-1, Employer's Annual Railroad Retirement Tax Return; and any variant of these forms.
Food or beverage establishments with more than 10 employees on a nonnal business day disclose the amount of total tips reported to them on Form 8027. Nevertheless, Form 8027 specifies tips as 8% of total receipts no matter what the employees report.
Supp.2d 1050 (1999), Coco Pazzo, a Chicago restaurant, declared both its total charged tips and cash tips reported by employees on Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips, for 1993-95, the years at issue.
The agent estimated tip income by reviewing Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips.
The IRS will try to increase the number of filings of Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips, as well as the percentage of tips reported by both employers and employees and the tax collections from tip income.
* The employer must file all required Federal tax forms, such as Form 941, Employer's Quarterly Federal Tax Return, Forms W-2 and Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips.
6053.3 requires that Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips, be filed by every large food or beverage establishment (defined in a subsequent paragraph) for each calendar year.
For 1990 and 1991, the company had timely filed Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips, for that particular restaurant.