IRS Notice: Calendar Year 2023 Tier 2 Tax Rates Published, Unchanged (IRC §3241)

Calendar year 2023 tier 2 tax rates as required by I.R.C. §3241(d), the IRS provided Nov. 29. 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 2023 apply to compensation paid in calendar year 2023. The tier 2 tax rate for 2023 under §3201(b) on employees is 4.9 percent of compensation. The tier 2 tax rate for 2023 under §3221(b) on employers is 13.1 percent of compensation. The tier 2 tax rate for 2023 under ...