IRS Form 8846 Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips

What Is IRS Form 8846?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. As of today, no separate filing guidelines for the form are provided by the IRS.

FAQ

Q: What is IRS Form 8846?
A: IRS Form 8846 is a form used to claim the credit for employer social security and Medicare taxes paid on certain employee tips.

Q: What is the purpose of IRS Form 8846?
A: The purpose of IRS Form 8846 is to claim a credit for the employer portion of social security and Medicare taxes paid on tips received by employees.

Q: Who should file IRS Form 8846?
A: Employers who have paid social security and Medicare taxes on tips received by their employees should file IRS Form 8846.

Q: What is the credit for employer social security and Medicare taxes on employee tips?
A: The credit is a dollar-for-dollar reduction in the employer's portion of social security and Medicare taxes paid on employee tips.

Q: How do I claim the credit for employer social security and Medicare taxes on employee tips?
A: To claim the credit, you need to complete IRS Form 8846 and attach it to your income tax return.

Q: Are there any eligibility requirements for claiming the credit?
A: Yes, there are eligibility requirements. The credit is only available to employers who operate a food and beverage establishment where tipping is customary and who have employees who receive tips.

Q: What documentation do I need to support my claim for the credit?
A: You will need to keep records of the tips reported to you by your employees and the social security and Medicare taxes you paid on those tips.

Q: Is there a deadline for filing IRS Form 8846?
A: Yes, IRS Form 8846 should be filed with your income tax return by the due date of the return, including extensions.