Form 4137 - Social Security Medicare Tax On Unreported Tip Income

IRS Form 4137, " Social Security and Medicare Tax on Unreported Tip Income," is used to calculate the Social Security and Medicare taxes owed on tip income that was not reported to an employer. This form is used when an employee has earned more than $20 in tips in a single month and has not reported those tips to their employer. The form is filed along with the employee's individual income tax return and is used to reconcile the difference between the tips reported to the employer and the actual tips earned by the employee. The form is used to calculate the additional taxes owed on the unreported tip income and is used to ensure that the employee is paying the correct amount of Social Security and Medicare taxes on all of their income.