Arizona Tribune - TaxBandits Now Supports E-Filing for Form 8027 to Simplify Tip Reporting for Restaurants and Bars

ROCK HILL, SC / ACCESS Newswire / March 19, 2025 / TaxBandits, a leading e-filing platform for businesses and tax professionals, now supports Form 8027, making the process of reporting tip income and allocated tips faster, more accurate, and more efficient.

What Is Form 8027?

Form 8027 is used by employers in the food and beverage sector, mainly those operating large restaurants or bars, to report tip income and allocate tips for their employees. This measure assists the IRS in monitoring compliance with tip reporting requirements and facilitates accurate tax reporting. A business that satisfies the following criteria is required to file Form 8027:

• It is located within one of the 50 United States or the District of Columbia.

• Tipping by customers to food or beverage employees is a customary practice.

• The establishment employs more than ten individuals who cumulatively work more than 80 hours on an average business day. This is commonly referred to as the "10-employee test."

TaxBandits: The Smart Way to E-File Form 8027

TaxBandits has earned a reputation as a trusted solution for tax e-filing due to its commitment to efficiency, accuracy, and user experience. With the addition of Form 8027 e-filing, businesses from the food and beverage industry can now report tip income securely and confidently with the IRS.

TaxBandits offers many powerful features for those who need to file Form 8027.

Fast and Reliable E-Filing: TaxBandits provides an intuitive platform that makes the e-filing process straightforward and secure. The user-friendly interface ensures employers can easily complete their filings without delays or complications.

Bulk 8027 Filing for Multiple Establishments: For businesses managing multiple food or beverage establishments, TaxBandits allows them to e-file Form 8027 for all locations in a single submission. This feature helps save time and reduces the need for repetitive manual entry.

Accurate Tip Allocations: TaxBandits automatically calculates tip allocations for each employee, reducing the risk of errors. This ensures the accuracy of tip reporting and keeps employers compliant with IRS requirements.

Fax Determination Letters Directly to IRS: TaxBandits is working to roll out a new feature that will allow employers to upload their IRS determination letter based on the tip allocation rate and fax it directly to the IRS-saving time and streamlining the filing process.

Real-Time Status Updates: With TaxBandits, employers can receive automatic notifications once the IRS processes Form 8027 filings. This ensures they stay updated without manually checking the status of their submissions.

Smart AI Assistance: TaxBandits offers BanditAI, an AI-powered chatbot designed to provide real-time help and streamline the e-filing experience for businesses.

World-Class Customer Support: TaxBandits offers robust customer support through live chat, phone, and email.

Premium Solutions for Tax Professionals: Faster, Easier, More Efficient

TaxBandits also offers tax professionals efficient tools to manage Form 8027 filings, including:

• Effortless Team Management: TaxBandits allows tax professionals to invite team members and designate particular roles (including Preparer, Approver, or Transmitter), thereby facilitating a seamless and efficient process for Form 8027 filings.
  

• Comprehensive Reports: Tax professionals can access detailed reports to gain insights into filing statuses, team performance, and overall filing efficiency. This feature helps them monitor their filings and maintain a streamlined workflow.

Those required to file Form 8027 are encouraged to create a free account at TaxBandits.com and start the filing process today!

About TaxBandits

The 1099 and W-2 experts! TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider of 1099 Form, Form W2, Form 940, Form 941, 1095-B, 1095-C, and W-9, serving businesses, service providers, and tax professionals of every shape and size.

About SPAN Enterprises

Based in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade. The SPAN Enterprises portfolio of products includes TaxBandits, Tax990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.

Please direct all media inquiries to Caleb Flachman, Marketing Manager, at caleb@spanenterprises.com.\

SOURCE: TaxBandits

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N.Mitchell--AT