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, 2014. Rev. Proc. 2011-51, IRB 2011-44, is superseded.

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, 2014. The Payment Year must be updated with the four digit-reporting year (2013 to 2014), unless reporting prior year data.

• FIRE Production System will be down from 6 p.m. (Eastern) December 12, 2014 through January 20, 2015, for yearly updates.

• FIRE Test System is available from November 3, 2014 through 6 p.m. (Eastern) December 12, 2014, and January 5, 2015, through February 20, 2015.

• Passwords must be 8-20 characters and include at least one uppercase and one lowercase letter, one number, and one special character #?!@$%^&*.,’-. Passwords cannot contain the User ID or User Name. Passwords must be changed every 90 days. The previous 24 passwords cannot be used. The effective dates for the new Password requirements are: (1) November 3, 2014 FIRE Test System and (2) January 20, 2015 FIRE Production System (IRS Pub. 1239, Specifications for Electronic Filing of Filing Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips, Rev. 12-2014)

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