Notices. Notice
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/register/2020/12/02/2020-26559·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 4915-01-P 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 2021 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 2021 apply to compensation paid in calendar year 2021.
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). SUPPLEMENTARY INFORMATION: TIER 2 TAX RATES: The tier 2 tax rate for 2021 under section 3201(b) on employees is 4.9 percent of compensation. The tier 2 tax rate for 2021 under section 3221(b) on employers is 13.1 percent of compensation. The tier 2 tax rate for 2021 under section 3211(b) on employee representatives is 13.1 percent of compensation. Dated: November 20, 2020. Rachel D. Levy, Associate Chief Counsel (Employee Benefits, Exempt Organizations and Employment Taxes). [FR Doc. 2020-26559 Filed 12-1-20; 8:45 am]