Restaurant Tips
Host Bob Edwards talks to restaurant owner Bob Larive about yesterday's Supreme Court decision, which allows the IRS to estimate the earnings of restaurant employees whose tips appear to be underreported. The amount of Social Security taxes paid by restaurants is based on employee earnings. The IRS argued that if the employees' earnings are underreported, then their employers won't be paying the full amount of Social Security taxes. Larive's restaurant, Fior d'Italia, was lead plaintiff in the case.
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