Rapidcreek@lemmy.world to politics @lemmy.world · 3 months agoBiden would sign a bill eliminating a tax on tips, White House saysthehill.comexternal-linkmessage-square34fedilinkarrow-up1113arrow-down15
arrow-up1108arrow-down1external-linkBiden would sign a bill eliminating a tax on tips, White House saysthehill.comRapidcreek@lemmy.world to politics @lemmy.world · 3 months agomessage-square34fedilink
minus-squareTachyonTele@lemm.eelinkfedilinkarrow-up12arrow-down2·3 months agoNobody that works on tips reports them for taxes. This doesn’t change anything.
minus-squareFuglyDuck@lemmy.worldlinkfedilinkEnglisharrow-up18·3 months agoCash tips, maybe. electronic tips that go through a PoS system have a digital trail, though, and that gets reported on w2’s.
minus-squareTachyonTele@lemm.eelinkfedilinkarrow-up1·3 months agoHmm good point. I wasn’t thinking about the electronic PoS tips.
minus-squareArcaneSlime@lemmy.dbzer0.comlinkfedilinkarrow-up6·edit-23 months agoCash tips. You have to claim card tips kinda. In many places they’re auto-claimed, and in others you don’t “have” to but if the IRS wants they can get proof of those tips unlike cash (or weed) tips, so you could get fucked.
minus-squareFuglyDuck@lemmy.worldlinkfedilinkEnglisharrow-up1·edit-23 months agoand then, they see that your receiving tips as a signifcant part of your income and start wondering why you only receive electronic tips… and just for the record, failing to report something… that only pays off if you’re a rich megacorp. normies just get thrown in jail.
minus-squareArcaneSlime@lemmy.dbzer0.comlinkfedilinkarrow-up1·3 months agoThey still have to prove it! They can suspect I’m lying but I’ve never gotten a cash tip in my life good sir!
minus-squareFuglyDuck@lemmy.worldlinkfedilinkEnglisharrow-up1·3 months agoeh. it’s the IRS. they’ll prove in time for lunch.
Nobody that works on tips reports them for taxes. This doesn’t change anything.
Cash tips, maybe. electronic tips that go through a PoS system have a digital trail, though, and that gets reported on w2’s.
Hmm good point. I wasn’t thinking about the electronic PoS tips.
Cash tips. You have to claim card tips kinda. In many places they’re auto-claimed, and in others you don’t “have” to but if the IRS wants they can get proof of those tips unlike cash (or weed) tips, so you could get fucked.
and then, they see that your receiving tips as a signifcant part of your income and start wondering why you only receive electronic tips…
and just for the record, failing to report something… that only pays off if you’re a rich megacorp. normies just get thrown in jail.
They still have to prove it! They can suspect I’m lying but I’ve never gotten a cash tip in my life good sir!
eh. it’s the IRS. they’ll prove in time for lunch.