Congress is considering the IRS' power to estimate tip income. PAPERWORK: IRS Form 8027 requires many restaurants to disclose credit card receipts and tips, among other figures. DISCLOSURE: Under EmTRAC, employers must set up formal tip reporting procedures. Should the Internal Revenue Service be permitted to estimate the amount of tips workers receive, thus allowing the agency collect income taxes on those amounts? The U.S. Supreme Court said "yes," but federal lawmakers aren't ...
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