4137x -

: Unreported income is not credited to your Social Security history, potentially lowering your future monthly benefit payments .

IRS is the tax document used to calculate and report the Social Security and Medicare taxes owed on unreported tip income . This includes cash tips, noncash tips, and "allocated tips" shown in Box 8 of your Form W-2 that were not previously reported to your employer . Core Purpose of Form 4137 : Unreported income is not credited to your

: If your W-2 Wage and Tax Statement shows an amount in Box 8 (allocated tips), you must report this as income on your 1040 and use Form 4137 unless you have adequate records proving you received less . Core Purpose of Form 4137 : If your

: Using IRS Form 4137 fulfills your legal responsibility to report all income and helps avoid IRS audits or penalties . Who Must File : Unreported income is not credited to your

: It determines the employee's share of FICA (Social Security and Medicare) taxes on tips that weren't taxed during the year .