Internal Revenue Service (IRS), Treasury.
Publication of the tier 2 tax rates for calendar year 2007 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 are one source of funding for benefits under the Railroad Retirement Act.
The tier 2 tax rates for calendar year 2007 apply to compensation paid in calendar year 2007.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Ligeia M. Donis, CC:TEGE:EOEG:ET1, Internal Revenue Service, 1111 Constitution Avenue, NW., Washington, DC 20224, Telephone Number (202) 622-0047 (not a toll-free number).
TIER 2 TAX RATES: The tier 2 tax rate for 2007 under section 3201(b) on employees is 3.9 percent of compensation. The tier 2 tax rate for 2007 under section 3221(b) on employers is 12.1 percent of compensation. The tier 2 tax rate for 2007 under section 3211(b) on employee representatives is 12.1 percent of compensation.Start Signature
Dated: November 9, 2006.
Division Counsel/Associate Chief Counsel (Tax Exempt and Government Entities).
[FR Doc. E6-19777 Filed 11-21-06; 8:45 am]
BILLING CODE 4830-01-P