IRS revises procedures for electronic filing of Form 8027

The IRS has issued revised specifications for electronically filing Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips. Form 8027 is used by large food or beverage establishments to report their gross receipts from food or beverage operations and tips reported by employees. The updated specifications are effective for Forms 8027 that are filed after January 1, 2015.

What’s new?

• The publication should be used in conjunction with the following forms and publications: (1) Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips and (2) Instructions for Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips
• Publication 1239 was updated to reflect the current four digit reporting year, 2015. The Payment Year must be updated with the four digit-reporting year (2014 to 2015), unless reporting prior year data.
• FIRE Production System is available from January 19, 2016, through December 9, 2016.
• FIRE Test System is available from November 2, 2015, through February 19, 2016. The FIRE Test System will be down from 6 p.m. (Eastern) December 11, 2015, through January 3, 2016, for yearly updates.(IRS Pub. 1239, Specifications for Electronic Filing of Filing Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips, Rev. 10-2015)

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