Form 8846: Credit for Employer Social Security and Medicare Taxes...

8846 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  Employers may receive a tax credit for FICA taxes paid on certain employee tips by filing IRS form 8846. Read on to learn more!

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.