When I copy data from Excel and paste onto a word document. They have "\t" in between each word & "\n" at the end of the line, it looks like this:
Letter  Number  Symbol
A   1   #
B   2   !
C   3   %
Thanks Joasih for all your help. the missing piece of this puzzle is that if there is no data, it needs to have a space.
Without pipes:
Letter  Number  Symbol
A   1   #
B       !
C   3   %
With pipes:
||Letter||Number||Symbol||
|A|1|#|
|B| |!|<-- Needs to have a space if no data
|C|3|%|
  var submitBtn = true;
 $("#reset").click(function () {
  $("#withoutPipes").val("");
  submitBtn = true;
 });
 
 $("#submit").click(function () {   
  if (submitBtn && $("#withoutPipes").val() != "") {
   var excelText = $("#withoutPipes").val();
   var excelLines = excelText.replace(/\t\t/g, "\t \t");
   var split = excelLines.replace(/\t\t/g, "\t \t ").split("\n");
   var header = "||" + split[0].replace(/\t/g, "||") + "||";
   var cells = "|" + split.slice(1).join("|\n|").replace(/\t/g, "|") + "|";
   var formattedTable = header + "\n" + cells;
   $("#withoutPipes").val(formattedTable);
   submitBtn = false;
  } 
 });#withoutPipes {
  width: 400px;
  height: 200px;
  font-size: 14pt;
  margin-top: 50px;
  padding: 10px 10px 10px 10px;
  vertical-align: top;
}
.textBox {
  margin: 0;
  text-align: center;
}
.buttons {
  margin: 40px 20px 20px 40px;
  font-size: 14pt;
}<script src="http://code.jquery.com/jquery-latest.min.js"></script>
<form id="testForm">
  <textarea id="withoutPipes" autofocus="on" placeholder="Copy and paste the table here. Just Ctrl-V and submit"></textarea>
</form>
<button type="button" class="buttons" id="submit">Format table for JIRA</button> 
     
    