85 FR 232 pg. 77486 - Publication of the Tier 2 Tax Rates
Type: NOTICEVolume: 85Number: 232Page: 77486
Page: 77486FR document: [FR Doc. 2020-26559 Filed 12-1-20; 8:45 am]
Agency: Treasury Department
Sub Agency: Internal Revenue Service
Official PDF Version: PDF Version
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
Publication of the Tier 2 Tax Rates
AGENCY:
Internal Revenue Service (IRS), Treasury.
ACTION:
Notice.
SUMMARY:
Publication of the tier 2 tax rates for calendar year 2021 as required by section 3241(d) of the Internal Revenue Code. Tier 2 taxes on railroad employees, employers, and employee representatives are one source of funding for benefits under the Railroad Retirement Act.
DATES:
The tier 2 tax rates for calendar year 2021 apply to compensation paid in calendar year 2021.
FOR FURTHER INFORMATION CONTACT:
Kathleen Edmondson, CC:EEE:EOET:ET1, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224, Telephone Number (202) 317-6798 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
TIER 2 TAX RATES: The tier 2 tax rate for 2021 under section 3201(b) on employees is 4.9 percent of compensation. The tier 2 tax rate for 2021 under section 3221(b) on employers is 13.1 percent of compensation. The tier 2 tax rate for 2021 under section 3211(b) on employee representatives is 13.1 percent of compensation.
Dated: November 20, 2020.
Rachel D. Levy,
Associate Chief Counsel (Employee Benefits, Exempt Organizations and Employment Taxes).
[FR Doc. 2020-26559 Filed 12-1-20; 8:45 am]
BILLING CODE 4830-01-P