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by Sherri on February 10th, 2009
You are in a service industry and your employer is participating with the IRS in reporting tips as a percentage of sales. If you do not report enough tips to your employer, then the employer adds the 'missing' tips as allocated tips. Better to report all your tips thru your employer as allocated tips gets added to wages, box 1, and there is no withholding against this money.
by Mephistopheles on January 21st, 2009
It's tips received by people in the service industry, i.e. waitress/es, hair dressers, chauffers, etc. - anyone who receives tips as part of their job
Is there an age limit to be a dependent for taxes?
by Answerbag Staff on July 13th, 2010
| 1 person likes this
How do I add a tip to a credit card?
by Answerbag Staff on May 2nd, 2010
| 1 person likes this
what's with tipping? Is it so they don't have to pay the employees minimum wage?
by Random on September 24th, 2011
| 2 people like this
Is credit card interest deductible on income tax?
by Answerbag Staff on May 25th, 2010
| 1 person likes this
When was the minimum tipping wage set?
by Running, Fall Up on July 4th, 2009
| 1 person likes this
You're reading What does the "allocated tips" line mean on my W2?
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