2019-25552. Publication of the Tier 2 Tax Rates  

  • Start Preamble

    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Notice.

    SUMMARY:

    Publication of the tier 2 tax rates for calendar year 2020 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 2020 apply to compensation paid in calendar year 2020.

    Start Further Info

    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).

    Tier 2 Tax Rates: The tier 2 tax rate for 2020 under section 3201(b) on employees is 4.9 percent of compensation. The tier 2 tax rate for 2020 under section 3221(b) on employers is 13.1 percent of compensation. The tier 2 tax rate for 2020 under section 3211(b) on employee representatives is 13.1 percent of compensation.

    Start Signature

    Dated: November 19, 2019.

    Victoria A. Judson,

    Associate Chief Counsel (Employee Benefits, Exempt Organizations, and Employment Taxes).

    End Signature End Further Info End Preamble

    [FR Doc. 2019-25552 Filed 11-22-19; 8:45 am]

    BILLING CODE 4830-01-P

Document Information

Published:
11/25/2019
Department:
Internal Revenue Service
Entry Type:
Notice
Action:
Notice.
Document Number:
2019-25552
Dates:
The tier 2 tax rates for calendar year 2020 apply to compensation paid in calendar year 2020.
Pages:
64964-64964 (1 pages)
PDF File:
2019-25552.Pdf