Question

Lauren is a waitress at the Red Rose Café. Her Y-T-D earnings as of Septem are $22,800. Please answer the following question using the following information. FICA OASDI-6.2% on the first $128,400 FICA MEDICARE- 1.45% 22,800 SIT-7% FIT-See Table $25-given by teache Round to the nearest cent. 1. Red Rose requires that all of its wait staff report their tips daily at the end of their shift. For the week ended October 19 Lauren reported tips of $87.50 for a 20 hour week. Calculate her net pay. 20 hours 4260 x 725 145 +8750 it 142 745 1454 2. The IRS provides a form that Lauren can use to report her tips to Red Rose. What is the form number and what is the name of the form?

I need help with question 2 please

Answer 1

2. 2. Employees are required to report tips received to the employer. The IRS provides a form which may be used for reporting tips to the employer unless the employer provides some other form for the purpose. The form provided by the IRS is the Form 4070 which is named the Employee’s Report of Tips to Employer.