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INCOME FROM TIPS IS TAXABLE

 INCOME FROM TIPS IS TAXABLE
 DALLAS, Dec. 18 /PRNewswire/ -- Tip income is taxable income, and


in some cases, tips must be reported to the tipped worker's employer, an IRS spokesperson said today.
 All tipped employees should keep a daily record of their tips. A worker receiving tips totalling $20 or more in one month while working for one employer is required to report the total monthly tip amount received to that employer.
 The IRS has a free booklet, Publication 1244, containing forms for listing daily tips and for the monthly report to the employer. Additionally, IRS Publication 531, Reporting Income From Tips, gives detailed information about the process.
 Either free publication is available at your local IRS office or by calling, toll-free, 800-TAX-FORM.
 -0- 12/18/91
 /CONTACT: Arizona, Marti Hossimer, 602-379-3488; Colorado, Rosemary Campbell, 303-844-3329; Kansas, James Manuszak, 316-291-6400; New Mexico, Laura Criel, 505-766-2537; Oklahoma, David Stell, 405-231- 5091; East Texas, Steve Yost, 713-653-3670; North Texas, Marlene Gaysek, 214-767-1424; West Texas, Sally Sassen, 512-499-5315; Utah, Jan Hadley, 801-524-5297; or Wyoming, Tim Harms, 307-772-2162, of the Internal Revenue Service/ CO: Internal Revenue Service ST: Arizona, Colorado, Kansas, New Mexico, Oklahoma, Texas, Utah IN: SU:


MC -- DV003 -- 3386 12/18/91 11:34 EST
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Publication:PR Newswire
Date:Dec 18, 1991
Words:203
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