06/26/2026
Leak #4 of 7: the F**A tip credit you can still claim for tax years you already closed. Most owners do not know it is retroactive. The IRS lets you amend three open tax years on Form 8846, so the payroll tax credit you earned at 7.65% on every reported tip does not disappear when the year ends. For a restaurant like this one, the three open years add up to about $61,400 you can still recover. Illustrative example.
Leak #5 of 7 is the one your payroll company never points out. Follow so the algorithm shows it to you.
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Educational, not tax advice. Figures are illustrative.