IRS Form 8846 Instructions: Credit for Employer Taxes Paid on...
8846 tip credit IRS Form 8846, officially known as the "Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips," allows employers to claim a credit against their federal tax liability for the employer portion of FICA taxes paid on tips received by employees..8846 credit
The FICA tip credit allows employers to take credit for Social Security and Medicare taxes already paid on employees' tips. Learn more about the credit in the blog post.8846 tip 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.
