Credit for Employer Social Security and Medicare Taxes

8846 credit Form 8846: This form is your ticket to claiming the credit! It allows you to calculate and claim a credit for the employer portion of Social Security and Medicare taxes you paid on tip income exceeding the federal minimum wage..

8846 tip credit  Federal Insurance Contribution Act (FICA) tip credit is designed to help small businesses in the food and beverage industries handle tip taxes. It allows employers to take credit for Social Security and Medicare taxes already paid on employees' tips.

8846 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.