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Document Name
OHAUSTIPS350
In this step, you enter the amounts necessary for tip allocation, along with amounts that are used on Form 8027 (Employer's Annual Information Return Tip Income and Allocated Tips). The adjusted gross receipts entered here are used as the allocation bases.
Standard settings
The system uses the values entered in the fields Gross receipts, Total direct tips, Total indirect tips, and Total tip shortfall to calculate allocations. Total tip shortfall is defined here as the difference between the amount of gross receipts an establishment is required to report to the IRS as tips, and the amount actually reported by employees as tips. These four amounts need to be entered every pay period.
The system does not perform any calculations using values entered in the fields Charged tips, Charged receipts, and Service charge; however, these amounts are required on Form 8027. If you do not enter these amounts here, you will have to fill out these fields on Form 8027 manually.
Activities
For each of your establishments, enter the Gross receipts, Total direct tips, Total indirect tips, and Total tip shortfall for each pay period.
Define the Start date and End date of the record to correspond with the begin and end dates of the pay period.
If desired, enter the Charged tips, Charged receipts, and Service charge for each of your establishments for each pay period.