American International Group, Inc. â also known as AIG â is an American multinational insurance corporation with more than 88 million customers in 130 countries.AIG companies employ over 64,000 people in 90 countries.The company operates through three businesses: AIG Property Casualty, AIG Life and Retirement and United Guaranty Corporation (UGC).IG companies employ over 64,000 people in 90 countries. The company operates through three businesses: AIG Property Casualty, AIG Life and Retirement and United Guaranty Corporation (UGC).
One day he slipped and injured his back when walking into the pubâs kitchen. He made $8.00 an hour plus any tips he received. Big Inningâs workersâ comp insurance company didnât include his tip income when it calculated his comp payments. Negriev appealed that decision. The insurance company said since the bartender hadnât reported the tips for federal income tax, they shouldnât be included in calculations for workersâ comp. But Negriev was able to show that even though he didnât report the tips for tax purposes, he did report them daily to his employer at the end of each shift.
Also, note that you may be eligible for an income tax credit against the amount of FICA tax you have to pay on your employees' tips. Employees' reports. Your employees may use Form 4070, Employee's Report of Tips to Employer, and Form 4070A, Employee's Daily Record of Tips, to report their tips to you.ne of the factors is having tipped employees. If you have employees who receive cash tips from your customers, the tips may constitute taxable wages for payroll tax purposes. This designation subjects you as an employer to additional payroll tax withholding, reporting and payment requirements.