Tips for Tipped Employees On-Demand Session



$56 for Members and $68 for Nonmembers


Do you have clients who receive tips? In this session, we will review the rules about reporting tip income. You will learn what tip income must be reported and to whom. You'll also learn about special situations, including withholding in excess of wage income and allocated tips, and what penalties can be assessed if your clients do not correctly report tip income.



Upon completion of this course, you will be able to:

  • Identify reportable income for tipped employees.
  • Identify income that must be reported to employers.
  • Identify IRS programs to help employers and employees meet their reporting obligations.
  • Differentiate between tips that are subject to withholding and those that are not.
  • Justify use to Form 4070A, Employee's Daily Record of Tips.
  • Correctly report tip income on a client's Form 1040.
  • Correctly calculate penalties for failure to report tips.

Course Details

Includes Tax Forum session recording and PowerPoint presentation.

Presented by: Larry Gray, CPA

CPE Details

Course Year: 2017
Course Level: Intermediate
Prerequisite: Basic knowledge of federal income taxation
Advanced Preparation: None
Delivery Method: QAS Self Study

CPE Credits Designation ​Field of Study
​IRS​2AFSP​​Federal Tax Law Topic
​IRS​2​EA​Federal Tax Law Topic
​CTEC​2​CRTPFederal Tax Law Topic
​CFP Board​0​CFP®​N/A

How to Earn CPE

To receive credit for this on-demand session, you must make at least one attempt to answer each of the review questions included with the session video. You also must successfully pass the course exam with a score of 70% or better.

The course and exam will expire one year from the date of purchase.

Cancellation Policy

​Because this is an online education offering, it is nonrefundable.

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