About Form 8846, Credit for Employer Social Security and Medicare...

Describe

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 credit  Certain food and beverage employers (see Who Should File below) use Form 8846 to claim a credit for social security and Medicare taxes paid or incurred by the employer on certain employees’ tips.

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.