CLEVELAND, February 14 — The Railroad Retirement Board (RRB) has adjusted the railroad retirement benefits of over 140,000 beneficiaries to apply new Federal income tax withholding rates.
The RRB implemented the new tax tables beginning with monthly payments received in February 2011.
The Internal Revenue Service (IRS) revised the income tax withholding rates and tables that are used to calculate Federal income taxes for United States citizens based on provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
The new rates apply to withholding from the non-social security equivalent benefit (NSSEB) portion of tier I, tier II, vested dual benefits, and supplemental annuity payments. The revised tax tables will remain in use for the remainder of 2011.
More details are available in this PDF from the Railroad Retirement Board.