2024 Form 8846 - Internal Revenue Service

5(1793)

8846 credit Fortunately, IRS Form 8846, Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips, offers restaurant owners a valuable opportunity to offset some of these costs. Here's a breakdown of what Form 8846 is, how it works, and how your restaurant business can benefit..

8846 tip credit Certain food and beverage employers use Form 8846 to claim a credit for Social Security and Medicare taxes paid or incurred by the employer on certain employees’ tips.

8846 credit The FICA tip credit can be requested when business tax returns are filed. It is reported on IRS Form 8846, which is sometimes called Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips. Determining if the FICA tax tip applies to your business can be a challenge.