FICA Tip Credit for employers | Internal Revenue Service
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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..
8846 credit To get the FICA tax tip credit, you must complete Form 8846, Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips, and attach the form to your tax return.
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.