Which code would you reference for amounts related to uncollected Medicare tax?

The reference code for amounts related to uncollected Medicare tax is typically Code M. This code specifically addresses the reporting of uncollected Medicare tax from employees. The uncollected Medicare tax represents the portion of Medicare tax that an employer did not withhold from the employee's wages and is required to be reported for tax purposes.

Understanding the correct reference for uncollected Medicare tax is crucial for accurate tax reporting. Employers need to keep detailed records to ensure compliance with tax laws and regulations. This includes reporting any uncollected amounts on the appropriate tax documents, ensuring that both employers and employees are aware of their tax liabilities.

Recognizing the specific code associated with uncollected Medicare tax is essential for tax preparation and filing as it helps in understanding the overall tax responsibility and potential liabilities that may arise for both the employer and the employee.