An impact socket includes a socket body having a first end and an opposing second end, the socket body defining a first fastener driving structure at the second end. The impact socket includes a collar assembly carried by the socket body, the collar assembly defining a second fastener driving structure. The collar assembly includes a support sleeve and a base sleeve that define a chamber configured to constrain movement of a securing mechanism relative to the socket body, the securing mechanism configured to selectively secure the collar assembly to the socket body when the collar assembly is disposed in at least one of a first position relative to the second end of socket body and a second position relative to the second end of socket body.