Form Ct-2 - Employee Representative'S Quarterly Railroad Tax Return Page 2
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Form CT-2 (Rev. 1-2015)
Page
When To File
Section references are to the Internal Revenue Code unless
otherwise noted.
Due dates for filing Form CT-2 and paying the tax each quarter
Future Developments
are as follows:
Quarter covered:
Due by:
For the latest information about developments related to Form
January, February, March
May 31, 2015
CT-2 and its instructions, such as legislation enacted after they
were published, go to
April, May, June
August 31, 2015
July, August, September
November 30, 2015
What’s New
October, November, December
February 29, 2016
Tax rates and compensation bases for 2015. The Tier 1 tax
If any due date shown above falls on a Saturday, Sunday, or
rate is 12.4%. The Tier 1 compensation base has increased to
legal holiday, you may file your return and pay the tax on the
$118,500. The Tier 1 Medicare tax rate is 2.9%. There is no
next business day. The term “legal holiday” means any legal
compensation base limit for Tier 1 Medicare tax. The Tier 2 tax
holiday in the District of Columbia. If we receive Form CT-2 after
rate on employee representatives is 13.1%. The Tier 2
the due date, we will treat Form CT-2 as filed on time if the
compensation base has increased to $88,200.
envelope containing Form CT-2 is properly addressed, contains
Reminders
sufficient postage, and is postmarked by the U.S. Postal Service
on or before the due date, or sent by an IRS-designated private
Tier 1 Additional Medicare Tax. In addition to the Tier 1
delivery service on or before the due date. If you do not follow
Medicare tax of 2.9%, employee representatives are subject to
these guidelines, we will consider Form CT-2 filed when it is
0.9% Additional Medicare Tax on compensation in excess of
actually received. See Pub. 15 (Circular E) for more information
$200,000, beginning in the pay period in which your
on legal holidays and IRS-designated private delivery services.
compensation for the calendar year exceeds $200,000. If you
Where To File
pay any Additional Medicare Tax during the year, you must
complete and file Form 8959, Additional Medicare Tax, with
Form CT-2 contains two copies. Be sure to make an additional
your federal income tax return. See the Instructions for Form
copy of Form CT-2 for your records. Send both the ORIGINAL
8959. For more information on Additional Medicare Tax, visit
and DUPLICATE to the Department of the Treasury, Internal
IRS.gov and enter “Additional Medicare Tax” in the search box.
Revenue Service Center, Cincinnati, OH 45999-0007.
General Instructions
Penalties and Interest
Purpose of Form
The law provides a penalty for late filing or late payment unless
you can show reasonable cause for the delay. If you are late in
Use this form to report railroad retirement taxes imposed on
filing a return or paying the taxes, send an explanation with the
compensation received by employee representatives.
return. Interest is charged on taxes paid late at the rate set by
Railroad retirement taxes. The Railroad Retirement Tax Act
law.
imposes a tax on an employee representative, which is based
Records
on compensation.
You must keep records relating to employee representative
These taxes are comprised of Tier 1 and Tier 2 taxes. The
taxes for at least 4 years after the taxes are due or were paid,
amount of compensation subject to each tax is different.
whichever is later.
The Tier 1 tax rate is 12.4%. It applies only to the first
$118,500 paid to you during 2015 for services performed as an
Definitions
employee representative. The Tier 1 Medicare tax rate is 2.9%.
Employee representative. An employee representative is:
It applies to all compensation paid to you during 2015 for
services performed as an employee representative. The Tier 1
1. Any officer or official representative of a railway labor
Additional Medicare Tax is 0.9%. It applies to compensation
organization that is not an employer under section 3231(a) who
paid to you during 2015 that exceeds $200,000 for services
(a) was in the service of an employer and (b) is authorized and
performed as an employee representative.
designated to represent employees under the Railway Labor
Act, or
The Tier 2 tax rate on employee representatives is 13.1%. It
applies only to the first $88,200 paid to you during 2015 for
2. Any individual who is regularly assigned to or regularly
services performed as an employee representative.
employed by an employee representative as defined above in
connection with the duties of the employee representative’s
Who Must File
office.
You must file Form CT-2 for the first quarter in which you are
Compensation. Compensation means payment in money, or in
paid taxable compensation for services you performed as an
something that may be used instead of money, for services
employee representative. Continue filing returns for each
performed as an employee representative. It does not include
quarter, even if you are not paid taxable compensation. When
payments made specifically for traveling or other bona fide and
your taxable compensation payments stop completely, you
necessary expenses that meet the rules in the regulations under
must file a final return. Write “Final Return” at the top of Form
section 62. For purposes of Tier 1 taxes, compensation does
CT-2.
not include sickness or accident disability payments received (a)
under a workers’ compensation law, (b) under section 2(a) of the
Railroad Unemployment Insurance Act for days of sickness due
to an on-the-job injury, (c) under the Railroad Retirement Act, or
(d) more than 6 months after the month in which the employee
representative last worked for the railway labor organization. For
purposes of Tier 2 taxes, compensation does not include
payments made under a sickness or accident disability plan or a
medical or hospitalization plan in connection with sickness or
accident disability.
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