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Monday, June 17, 2002
Here's a Tip For You The Supreme Court has ruled that the IRS may make estimates of the amount of cash tips that restaurant employees receive for the purposes of calculating the Social Security tax owed by the restaurant owners. This is going to make things very interesting for waiters and bartenders across the country. Now that the IRS is cracking down on the restaurants, the restaurants will have little choice but to crack down on the staff. As a former (and future?) restaurant employee I know that a lot of folks vastly under report the amount of tips they receive. With some cash tips, some credit, some from pools, some paid into pools, it becomes difficult to track and easy to underestimate the true amount of money one is making -- intentionally or unintentionally. I suspect that this will hit the smaller, less fancy outlets hardest of all. One is much more likely to pay cash at the Wynkoop than Ruth's Chris, and it is the cash transactions that are the concern. The Court encouraged the restaurant to take its policy concerns to Congress. It will be interesting to see if they do. |
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