Receiving Cash Tips
Many restaurants in some locations have suffered during the COVID-19 pandemic because they’re limited in the services they can offer. Still, a lot of restaurants are providing take out, delivery and other services, and their employees are receiving tips. If you own a business where employees receive cash tips of $20 or more in a calendar month, the employees are required to report to you the total amount of tips they receive. The employees must give you written reports by the tenth day of the following month. For more information, contact us or visit the IRS website: http://bit.ly/3gTcmXP
