Here’s what taxpayers need to know about reporting tip income on their tax return
Generally, income received from any source, including tips, is taxable. Here's some information to help taxpayers report tip income.
All tips that taxpayers receive are income and subject to federal income tax. Taxpayers must include all tips they receive in their gross income.
Original Article Source Credits: IRS , https://www.irs.gov/
Article Written By: NA
Original Article Posted on: May 13, 2021
Link to Original Article: https://www.irs.gov/newsroom/heres-what-taxpayers-need-to-know-about-reporting-tip-income-on-their-tax-return