FinanceRegs.com » IRS’ newest audit red flag …

IRS’ newest audit red flag …

June 9, 2008 by Carol Katarsky
Posted in: Best practices, IRS regs, In this week's e-newsletter, Internal controls, Latest news & views

The feds may not be doing more audits than before, but in certain areas of tax compliance, they’re really ramping up their efforts. So be extra careful if you have any tip reporting failures at your company. If you haven’t filed a Form 8027, you’re far more likely to feel the heat of an audit.

IRS has said it’ll be going after non-filers to see if they’ve followed all the rules for allocating and distributing tips to employees.

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