Credit for Employer Social Security and Medicare Taxes

8846 tip credit Our IRS Form 8846 instructions walk you through the calculations needed to claim the FICA tip credit and complete the form..

8846 credit  Complete Form 8846, Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips, and, in most cases, attach this form to your tax return to claim the credit.

8846 tip credit  Form 8846 allows eligible food and beverage employers to claim a credit for social security and Medicare taxes paid on employees' tips. This eventually supports compliance with IRS regulations and minimizing tax liability.