Form 8846 - Credit For Employer Social Security And Medicare Taxes Paid On Certain Employee Tips - 2015 Page 2
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Form 8846 (2015)
Page
General Instructions
Therefore, the amount of tips for any
subject to the 6.2% rate, check the
month that are used to figure the
box on line 4 and attach a separate
Section references are to the Internal
credit must be reduced by the
computation showing the amount of
Revenue Code unless otherwise
amount by which the wages that
tips subject to only the Medicare tax
noted.
would have been payable during that
rate of 1.45%. Subtract these tips
Future Developments
month at $5.15 an hour exceed the
from the line 3 tips, and multiply the
wages (excluding tips) paid by the
difference by 0.0765. Then, multiply
For the latest information about
employer during that month.
the tips subject only to the Medicare
developments related to Form 8846
tax by 0.0145. Enter the sum of
For example, an employee worked
and its instructions, such as legislation
these amounts on line 4.
100 hours and received $450 in tips
enacted after they were published, go
for October 2015. The worker received
Reduce the income tax deduction
to
$375 in wages (excluding tips) at the
for employer social security and
Purpose of Form
rate of $3.75 an hour. If the employee
Medicare taxes by the amount on
Certain food and beverage
had been paid $5.15 an hour, the
line 4.
establishments (see Who Should File
employee would have received wages,
below) use Form 8846 to claim a credit
excluding tips, of $515. For credit
Paperwork Reduction Act Notice.
for social security and Medicare taxes
purposes, the $450 in tips is reduced
We ask for the information on this
paid or incurred by the employer on
by $140 (the difference between $515
form to carry out the Internal
certain employees’ tips. The credit is
and $375), and only $310 of the
Revenue laws of the United States.
part of the general business credit.
employee’s tips for October 2015 is
You are required to give us the
You can claim or elect not to claim
taken into account.
information. We need it to ensure
the credit any time within 3 years
that you are complying with these
A 0.9% Additional Medicare Tax
from the due date of your return on
laws and to allow us to figure and
applies to Medicare wages and tips.
either your original return or on an
collect the right amount of tax.
However, Additional Medicare Tax is
amended return.
only imposed on the employee.
You are not required to provide the
Partnerships and S corporations
There is no employer share of
information requested on a form that is
must file this form to claim the
Additional Medicare Tax. Thus, there
subject to the Paperwork Reduction
credit. All other taxpayers are not
is no effect on the credit for
Act unless the form displays a valid
required to complete or file this form
employer social security and
OMB control number. Books or
if their only source for this credit is a
Medicare taxes on certain employee
records relating to a form or its
partnership or S corporation.
tips.
instructions must be retained as long
Instead, they can report this credit
as their contents may become material
Specific Instructions
directly on line 4f in Part III of Form
in the administration of any Internal
3800, General Business Credit.
Figure the current year credit from
Revenue law. Generally, tax returns
your trade or business on lines 1
and return information are confidential,
For information regarding taxes
through 4.
as required by section 6103.
imposed on tips, including
information on the difference
Line 1
The time needed to complete and
between tips and service charges,
file this form will vary depending on
Enter the tips received by employees
see Rev. Rul. 2012-18, 2012-26
individual circumstances. The
for services on which you paid or
I.R.B. at
estimated burden for individual
incurred employer social security and
taxpayers filing this form is approved
Who Should File
Medicare taxes during the tax year.
under OMB control number
Include tips received from customers
File Form 8846 if you meet both of
1545-0074 and is included in the
for providing, delivering, or serving food
the following conditions.
estimates shown in the instructions
or beverages for consumption if tipping
1. You had employees who received
for their individual income tax return.
of employees for delivering or serving
tips from customers for providing,
The estimated burden for all other
food or beverages is customary.
delivering, or serving food or
taxpayers who file this form is shown
beverages for consumption if tipping
Line 2
below.
of employees for delivering or serving
If you pay each tipped employee wages
Recordkeeping . .
1 hr., 40 min.
food or beverages is customary.
(excluding tips) equal to or more than
Learning about
2. During the tax year, you paid or
$5.15 an hour, enter zero on line 2.
the law or the form . . .
28 min.
incurred employer social security
Figure the amount of tips included
Preparing and sending
and Medicare taxes on those tips.
on line 1 that are not creditable for
the form to the IRS .
1 hr., 43 min.
each employee on a monthly basis.
How the Credit Is Figured
If you have comments concerning
This is the total amount that would be
Generally, the credit equals the
the accuracy of these time estimates
payable to the employee at $5.15 an
amount of employer social security
or suggestions for making this form
hour reduced by the wages (excluding
and Medicare taxes paid or incurred
simpler, we would be happy to hear
tips) actually paid to the employee
by the employer on tips received by
from you. See the instructions for the
during the month. Enter on line 2 the
the employee. However, employers
tax return with which this form is
total amounts figured for all employees.
cannot claim the credit for taxes on
filed.
Line 4
any tips that are used to meet the
Federal minimum wage rate in effect
If any tipped employee’s wages and
on January 1, 2007, $5.15 an hour.
tips exceeded the 2015 social
security tax wage base of $118,500
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