November 2019 Individual Due Dates

T&V Blogger
Oct 25, 2019
1 min read

Updated: Oct 26, 2019

November 12 - Report Tips to Employer

If you are an employee who works for tips and received more than $20 in tips during October, you are required to report them to your employer on IRS Form 4070 no later than November 12. Your employer is required to withhold FICA taxes and income tax withholding for these tips from your regular wages. If your regular wages are insufficient to cover the FICA and tax withholding, the employer will report the amount of the uncollected withholding in box 12 of your W-2 for the year. You will be required to pay the uncollected withholding when your return for the year is filed.

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Gabriel Velez

CPA, EA - Partner at Tehrani & Velez, LLP

Gabriel Velez, CPA, EA, is a Partner at Tehrani & Velez, LLP with over a decade of experience helping privately held businesses and real estate investors navigate complex tax matters and implement effective strategies. He specializes in tax planning, compliance, and audit defense, with a strong focus on pass through entities and long term financial guidance.