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Notice

Publication of the Tier 2 Tax Rates

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Information about this document as published in the Federal Register.

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ACTION:

Notice.

SUMMARY:

Publication of the tier 2 tax rates for calendar year 2005 as required by section 3241(d) of the Internal Revenue Code (26 U.S.C. 3241). Tier 2 taxes on railroad employees, employers, and employee representatives (a group unique to the railroad industry) fund a private pension benefit of the railroad retirement system.

DATES:

The tier 2 tax rates for calendar year 2005 apply to compensation paid in calendar year 2005.

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FOR FURTHER INFORMATION CONTACT:

Margaret A. Owens, CC:TEGE:EOEG:ET1, Internal Revenue Service, 1111 Constitution Avenue, NW., Washington, DC 20224, Telephone Number (202) 622-6040 (not a toll-free number).

Tier 2 Tax Rates: The tier 2 tax rate for 2005 under § 3201(b) on employees is 4.4 percent of compensation. The tier 2 tax rate for 2005 under § 3221(b) on employers is 12.6 percent of compensation. The tier 2 tax rate for 2005 under § 3211(b) on employee representatives is 12.6 percent of compensation.

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Dated: December 1, 2004.

Nancy Marks,

Division Counsel/Associate Chief Counsel (Tax Exempt and Government Entities).

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[FR Doc. 04-26839 Filed 12-6-04; 8:45 am]

BILLING CODE 4830-01-P