Railroad Retirement Tax Act (Form CT-1 and CT-1X)

ICR 202102-1545-004

OMB: 1545-0001

Federal Form Document

ICR Details
1545-0001 202102-1545-004
Received in OIRA 201710-1545-020
Railroad Retirement Tax Act (Form CT-1 and CT-1X)
Revision of a currently approved collection   No
Regular 04/29/2021
  Requested Previously Approved
36 Months From Approved 04/30/2021
2,400 2,400
51,055 39,455
0 0

Section 3201 of the Internal Revenue Code imposes a tax on railroad employees' earnings at a rate equal to the social security tax rate, as well as a tax on income commonly known as Tier II tax. Section 3221 imposes the equivalent of employer FICA tax and a Tier II tax, on the employer. Use Form CT-1 to report taxes imposed by the Railroad Retirement Tax Act (RRTA). Section 31.6011(a)-2(a)(1) of the employment tax regulations requires the employer to file Form CT-1 annually. Form CT-1X is used to correct errors on a previously filed Form CT-1. Use Form CT-1X to correct: • Tier 1 Employee tax, Tier 1 Employee Medicare tax, Tier 1 Employee Additional Medicare Tax, and Tier 2 Employee tax; and • Tier 1 Employer tax, Tier 1 Employer Medicare tax, and Tier 2 Employer tax.

US Code: 26 USC 3201 Name of Law: Rate of tax (employee)
   US Code: 26 USC 3221 Name of Law: Rate of tax (employer)
PL: Pub.L. 116 - 127 7001 Name of Law: Families First Coronavirus Response Act
PL: Pub.L. 116 - 136 2301 Name of Law: Coronavirus Aid, Relief, and Economic Security Act

Not associated with rulemaking

  85 FR 77341 12/01/2020
86 FR 22784 04/29/2021

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 2,400 2,400 0 0 0 0
Annual Time Burden (Hours) 51,055 39,455 11,600 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
IRS has significantly revised the 2020 Form CT-1 and CT-1X to allow for the reporting of new employment tax credits and the deferral of deposit and payment of certain taxes from the following provisions. • P.L. 116-127: Section 7001, Payroll credit for required paid sick leave; Section 7003, Payroll credit for required family leave; and Section 7005, Wages paid by reason of the Emergency Paid Sick Leave Act and the Emergency Family and Medical Leave Expansion Act not considered compensation under section 3221(a) • P.L. 116-136: Section 2301 Employee Retention Credit; and Section 2302, Delay of payment for employer payroll taxes. The changes to Form CT-1 will result in an estimated burden increase of 5,985 hours. Changes to Form CT-1X will result in an estimated burden increase of 5,615 hours. IRS is making this submission to renew the OMB approval.

Johnny On 916 974-5038


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