On this episode of Federal Tax Updates, Annie and Roger focus on tips (the monetary kind), including an industry overview, current challenges with tip reporting, and tip credits. They also examine Notice 2023-13, and the proposed procedure that would establish the Service Industry Tip Compliance Agreement (SITCA) program and talk tax policy and politics. Get NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeFederal eRulemaking Portal - https://www.regulations.gov/Chapters
(00:00) - Federal Tax Update Episode 4
(04:42) - Changes in tipping in recent years
(14:28) - Are you supposed to report tips?
(22:05) - How tip pooling in restaurants works
(37:09) - How much longer does tipping survive?
(38:21) - New updates from the IRS
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