Report on the Taxation of Social Security and Railroad Retirement Benefits inCalendar Year 1992. Report to the Congress, the Secretary of Health and Human Services and the Railroad Retirement Board

摘要

The Treasury Department has been required to estimate the individual income taxliabilities attributable to the inclusion of social security and railroad social security equivalent benefits in adjusted gross income (AGI) for each calendar quarter. These estimated liabilities are transferred to the Federal Old-Age and Survivors Insurance (FOASI), Federal Disability Insurance (FDI), and Social Security Equivalent Benefit Account (SSEBA) trust funds at the beginning of each calendar quarter. The amounts transferred to the three trust funds are calculated as the difference between forecasts of tax liabilities made with and without the inclusion of forecasted levels of benefits in AGI. Chapter 2 presents the estimating methodology and estimates for the 1992 transfers. The correcting adjustments based on the actual liabilities are described in Chapter 3. The forecast of 1993-1997 liabilities by trust fund are presented in Chapter 4. Chapter 5 describes the distribution of taxable benefits by income class for tax year 1992. It also contains a comparison of marginal tax rates on taxable benefits for tax years 1991 and 1992, and a comparison of sources of income for beneficiaries for tax years 1991 and 1992.