Fed OASDItipEE
OASD – Old Age Survivors and Disablity (Social Security)
Tip – As in Tip Income
EE – Stands for employEE
This is the amount of social security payments being withheld from your paycheck for tip income.
Payroll tax requirements separate tip income from regular wages when reporting for social security (don’t know why it just is)
When you get your W-2 you will notice that you will have an extra box (box 7) that reports social security tips separate from social security wages.
That is your portion of Social Security tax on your tip income reported to your employer.
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