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4137 irs 2024 Form: What You Should Know

Do you have to pay Social Security and Medicare tax if you report your tips online, but your employer doesn't? If so, don't file for a Social Security number online. Instead, use Form SS-4W, Application for Employer Identification Number (EIN) or Record of Employment (ROE). Form SS-4W has all the information you need to figure out where to report and how much to report. For a basic guide to filing an SS-4W or claiming a refund, see How to File Form SS-4W or Claim a Refund. Social Security and Medicare Tax on Unreported Tip Income Use Form 4137 only to figure the social security and Medicare tax you must pay on tips you fail to report to your employer. It doesn't matter if you filed the return online or the employer e-file it. Income Limit A Social Security or Medicare tax return is accepted for up to 6 taxable years, or the tax period in which the return was filed, whichever is longer. However, the limit in section 63(b) of the Social Security Act, 1954 is reduced by 1 for each month or part of a month that you work (to a maximum of 12 months at or above the highest hourly wage you could have received for that work in the pay period ending the same day the return is filed) and by 3 for each month or part of a month that you do not work (to a maximum of 24 months at or above the highest hourly wage you could have received for that work in the pay period ending the same day). The maximum amount subject to the 6%-1 and 3%-3 reductions is 13,080 for 2018. What if you fail to file your return for a prior year? You can file an amended return for the prior year, but it'll be reported on the same return as you filed a one-time return to report all the prior-year earnings. You can change the pay periods for which your filing status changes, but keep those changes up to 12 months and report only your earnings from the most recent pay period for which you have new filing status that is within that 12-month period.

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