Publication of the Tier 2 Tax Rates

• Published date: 25 November 2019
• Citation: 84 FR 64964
• Record Number: 2019-25552
• Section: Notices
• Court: Internal Revenue Service,Treasury Department

Federal Register, Volume 84 Issue 227 (Monday, November 25, 2019)

[Federal Register Volume 84, Number 227 (Monday, November 25, 2019)]
                [Notices]
                [Page 64964]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2019-25552]
                =======================================================================
                -----------------------------------------------------------------------
                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 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.
                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.
                 Dated: November 19, 2019.
                Victoria A. Judson,
                Associate Chief Counsel (Employee Benefits, Exempt Organizations, and
                Employment Taxes).
                [FR Doc. 2019-25552 Filed 11-22-19; 8:45 am]
                BILLING CODE 4830-01-P