The IRS has introduced, by way of a proposed revenue procedure, a new Service Industry Tip Compliance Agreement (SITCA) program to enhance tip reporting and FICA withholding. Once finalized (comments are welcome until May 7, 2023), SITCA will replace the 3 existing compliance programs for all industries other than gaming. Pending finality, current agreements with employers remain effective (and will be transitioned to the new program), but no new agreements can be made as of March 8, 2023. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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