FICA Tip Credit for employers | Internal Revenue Service

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  This content is intended to provide thorough and useful knowledge about Form 8846 and the related Medicare as well as Social Security for employers’ Credit. The information attempts to give users understandable and accessible guidance so they can make use of the credit’s benefits. This content strives to equip employers with the information and resources required to correctly complete Form ...

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.