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The U.S. Railroad Retirement Board (RRB) is an independent agency in the executive branch of the United States government created in 1935 to administer a social insurance program providing retirement benefits to the country's railroad workers.
The 2010 Tax Relief Act reduced the self-employment tax by 2% for self-employment income earned in calendar year 2011, for a total of 13.3%. This rate will continue for income earned in calendar year 2012, due to the Temporary Payroll Tax Cut Continuation Act of 2011.
Types. There are several types of IRAs: Traditional IRA – Contributions are often tax-deductible (often simplified as "money is deposited before tax" or "contributions are made with pre-tax assets"), all transactions and earnings within the IRA have no tax impact, and withdrawals at retirement are taxed as income (except for those portions of the withdrawal corresponding to contributions ...
The OECD's 2018 Taxing Wages shows Ireland's employee tax on wages, which is the total tax (PAYE and EE–PRSI less SS Benefits) paid by Irish employees, as a % of their gross wages, is also one of the lowest in the OECD. Of the 35 OECD members in 2017, the average Irish single-worker paid 19.4% versus the OECD average of 25.5% (ranked 28th ...
"Off payroll" tax arrangements In October 2012, a Public Accounts Committee report found that the BBC had 25,000 "off payroll" contracts, 13,000 for people who were on air. The contracts enable people to make their own arrangements to pay tax and National Insurance , which could allow them to contribute less than employees on pay-as-you-earn tax.
This act also authorized a one-year reduction in the Social Security employee-payroll tax. The reduction was extended for the 2013 year by the Middle Class Tax Relief and Job Creation Act of 2012, which also extended federal unemployment benefits and the freeze on Medicare physician payments.
Medicare is a national health insurance program in the United States, begun in 1965 under the Social Security Administration (SSA) and now administered by the Centers for Medicare and Medicaid Services (CMS).
Additional information can be obtained at the Federation of Tax Administrators website. In the United States, there is a growing movement [18] for the replacement of all federal payroll and income taxes (both corporate and personal) with a national retail sales tax and monthly tax rebate to households of citizens and legal resident aliens.