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DEPARTMENT OF THE TREASURY
Internal Revenue Service
NOTICE: NOTICES
ACTION: Income taxes:
DOCUMENT ACTION: Notice.
SUBJECT CATEGORY: Publication of the Tier 2 Tax Rates
DATES: The tier 2 tax rates for calendar year 2008 apply to compensation paid in calendar year 2008.
DOCUMENT SUMMARY: 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.
SUMMARY: Railroad industry; Tier 2 tax rates publication (2008 CY),
FOR FURTHER INFORMATION CONTACT David G. Mills, CC:TEGE:EOEG:ET1, Internal Revenue Service, 1111 Constitution Avenue, NW., Washington, DC 20224, Telephone Number (202) 6220047 (not a tollfree 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.
Dated: November 3, 2007.
Nancy Marks,
Division Counsel/Associate Chief Counsel (Tax Exempt and Government Entities).
[FR Doc. 075955 Filed 12307; 2:29 pm]
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