Recordkeeping Review Good recordkeeping of "money in" and "money out" is the first step toward the profitable management of your restaurant. Frequently Asked Tax Questions And Answers Keyword: Tips/Allocated Tips Who pays taxes on tips? Employers, employees or both? Understanding Your IRS Notice or Letter We realize that receiving a notice or letter from the IRS can be unnerving, but if you follow these simple steps, the process to resolving the discrepancy should be straight forward. Related Restaurants Tax Center Tax Tips - Restaurant