IRS’s Gaming Industry Tip Compliance Program Las Vegas is an international, first-class, tourist destination. As…
The Internal Revenue Service issued a notice this week detailing a proposed Service Industry Tip Compliance Agreement (SITCA) program that would enable the IRS to better receive voluntary tips from employers in specific service industries. Until early May 2023, the IRS is providing the public an opportunity to comment on the proposal.
The proposed program would improve tip reporting compliance through the use of various point of sale and electronic payment settlement methods. It is expected that the proposed program would decrease financial burdens on taxpayers and IRS administration while also providing added transparency and confidence for taxpayers.
Features of the proposed SITCA program include:
If it is enacted, the IRS intends SITCA to become the exclusive tip reporting compliance program. It would ultimately replace:
At this time, the IRS is continuing to explore updates for the gaming industry, so the potential enactment of SITCA would not impact the current Gaming Industry Tip Compliance Agreement (GITCA) program.
The current proposal holds that employers who participate in other tip reporting compliance programs would maintain their agreement until any of the following situations occurs:
Any individual who wishes to provide feedback on the proposed SITCA program can follow the instructions in the Internal Revenue Service notice about SITCA and reply by May 7, 2023.
If you’re facing an IRS audit or looking for legal representation for another tax related issue, contact the experienced attorneys at Silver Law, PLC. We provide ethical and aggressive representation that protects the rights of each of our clients, based on our extensive legal knowledge and experience as former IRS employees. Whether you’re an individual or a business in need of legal advice related to taxes, don’t face the IRS alone. Schedule your confidential consultation with one of our experienced attorneys by contacting our office today.
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