IRS Gearing Up to Crack Down on Tips

Remember when we were told that the army of new IRS agents Biden wants to hire was only going to go after billionaires? Good times. If that’s the case, somebody should check to see if Bill Gates and Elon Musk have taken some side gigs slinging hash at a diner somewhere. (Of course, in Musk’s case it may come to that if he can’t get 10 million more people to sign up for Twitter Blue.) As it turns out, the Tax Man is launching a new program to crack down on tips received by wait staff in the food and beverage industry. That’s right. The IRS thinks that waiters and waitresses are pocketing too much money in gratuities, and Uncle Sam plans on getting his piece of the action. (Fox News)

The Internal Revenue Service (IRS) proposed a revenue procedure this week cracking down on service indus …