Adkins holds master's degrees in history and sociology from Georgia State University. He became a member of the Society of Professional Journalists in Share It. Social Security Administration. Please try again! Question by sidra 15 Does a waitress need to file income taxes? Answer by Chaneygirl Possibly, it depends on her earnings as well as her other income, marital status, dependents, credits available to her and her current situation.
Answer by patti Servers do indeed need to file income taxes. Answer by angiem Yes. Answer by Duncan Yes, anyone who earns income, from whatever source derived, must file taxes. You have 50 words left! You may subtract from your monthly tip income any amounts you paid out to other employees -- pursuant to a tip-sharing plan, for example -- leaving only your net tips. Your employer will withhold federal income, Social Security and Medicare taxes on this income from your paycheck.
Your report must be in written form, and you must deliver it to your employer by the 10th day of the month following the month you are reporting. You must report your total net tips on Form , and submit it to the IRS.
You must figure your taxes on this amount using Form , since your employer didn't withhold taxes from it. These taxes will either increase your tax bill or decrease the amount of your refund.
You must submit Form together with Form if you have any unreported tip income. If you under-report your tips and the IRS catches you, it can add penalties and interest to your tax bill. You may receive additional income in the form of tips. Any tips that you reported to your employer are included with your wages on your Form W-2, Box 1.
You must also include in income the value of non-cash tips such as tickets and passes, and any other tips received but not reported. Additionally, if your employer allocated tips to you, they are shown on your Form W-2, Box 8. They are not included in Box 1 with your wages and tip income that you reported to your employer.
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