Form 8027 (2023)

What Is Form 8027?

Not all taxpayers, even experienced employees know what is form 8027. This document is mainly used by employers. The 8027 form is called the Employer’s Annual Information Return of Tin Income and Allocated Tips. The document was created by the Department of the Treasury Internal Revenue Service.

Before you complete the blank, make sure it has the year you want on it. There are updates that the IRS may release every year to the form. As an employee, you need to report tips you receive on the different blank, which is form 4070. The form is sent to the employee and after that employee can provide 8027 tax form to the IRS.

This document was created by the industries that allow employees to earn extra income in the way of tips that are separate from the official salary. If you have a bar or restaurant in your ownership, you have to make sure that employees report their tips to you. After that, you have to report them to the IRS.

What Do I Need the Form 8027 For?

• The employer needs IRS form 8027 for the report on extra payments that were made by customers during the year to the employees. The extra money can’t be included or calculated as part of the salary;
• You need to use the form if your employees earn at least $20 for a month as extra tips. In this case, they have to fill 4070 form, and you have to include everything in the 8027 form;
• The form is required by the IRS to record the real money income including the tips that bring your business. It helps the department to understand whether you withheld the right amount of taxes from the employee’s income.

How to Fill Out Form 8027?

You can find form 8027 fillable online only on PDFLiner, which is an editor that helps you to fill templates using its tools while you are connected to the Internet. You don’t have to download any extra software, use a printer and scanner, or constantly switch between programs.

While the form is available on the IRS official website and you will find IRS form 8027 instructions there, there are no tools to complete it there. So, go to the PDFLiner, open the blank, and read it in advance. It is not that big. It has only one page, but you have to be specific in numbers. It is better if you keep all the receipts and checks close to you while you calculate the total amounts for tips. Follow these instructions for form 8027 to complete it:

1. Provide information about the establishment you own, including the name, address, and your ID number as an employer;
2. Put the tick in the appropriate box in the type of establishment section. Put the tick near the box that matches the type of return as well;
3. Include your name, address, ZIP code, and establishment number;
4. Pick the box with the right answer to the question on the way the establishment accepts the charges, and put a tick in it;
5. Describe in details the number of tips that were charged during the year, receipts, service charges, tips reported by employees, gross receipts for the beverages and food in your establishment;
6. Put down the signature, title, and date.

Organizations That Work With Form 8027

• Any organization with employers;
• Department of the Treasury Internal Revenue Service.