IRS Form 4070, Employee's Report of Tips to Employer - also known as the IRS tip-reporting form - is a form used by employees receiving tips to report them to their employers. The employer needs this information for proper tax withholding and to report the employee's earnings to the Social Security Administration (SSA).
The most recent version of this form was issued by the Internal Revenue Service (IRS) in August 2005. A fillable IRS Form 4070 is available for download below.
The IRS Form 4070 can be used in conjunction with the IRS Form 4070A, Employee's Daily Record of Tips. This form is used to keep track of tips received every day.
Using the IRS Form 4070A is voluntary, the employee can keep their own daily tips record, as long as it contains the amount of cash tips, tips from credit and debit cards, the value of noncash tips and the number of tips paid to other employees through tip pools or splitting. The names of employees, to whom the tips were paid, should also be included in the record.
The establishment can keep an electronic system of daily tips report. The paper version should be also used in this case.
The information from the daily tips report of any kind should be transferred to the IRS Form 4070.