IRS Form 8846 Instructions: Credit for Employer Taxes Paid on...

8846 tip credit How does the FICA Tip Credit work for employers in the food & beverage industry? The FICA Tip Credit offers food and beverage industry employers a way to reclaim a portion of the FICA taxes paid on employee tips. It provides both the potential for significant tax savings and an incentive for accurate tip reporting..

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

8846 tip 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.