IRS Rev. Proc.: Gaming Industry Tip Compliance Agreements Will Be Five Year Terms (IRC §3121)

Gaming Industry Tip Compliance Agreement (GITCA) agreements will be five years and extensions of existing agreements will be for five years, the IRS provided November 23. The GITCA Program is designed to promote Internal Revenue Code compliance by gaming industry employers and employees with tip income and reduce disputes under tax code Section 3121(q), the IRS stated. Under the GITCA Program, a gaming industry employer and the IRS work together to reach a GITCA that establishes minimum tip rates for participating employees in specified occupational categories, prescribes a threshold level of participation by the employees, and reduces compliance ...