Internal Revenue Service (IRS), Treasury.
Publication of the tier 2 tax rates for calendar year 2008 as required by section 3241(d) of the Internal Revenue Code (26 U.S.C. section 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 2008 apply to compensation paid in calendar year 2008.Start Further Info
FOR FURTHER INFORMATION CONTACT:
David G. Mills, 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 2008 under section 3201(b) on employees is 3.9 percent of compensation. The tier 2 tax rate for 2008 under section 3221(b) on employers is 12.1 percent of compensation. The tier 2 tax rate for 2008 under section 3211(b) on employee representatives is 12.1 percent of compensation.Start Signature
Dated: November 3, 2007.
Division Counsel/Associate Chief Counsel (Tax Exempt and Government Entities).
[FR Doc. 07-5955 Filed 12-3-07; 2:29 pm]
BILLING CODE 4830-01-P