Report on the Taxation of Social Security and Railroad Retirement Benefits inCalendar Year 1991. Report to the Congress, the Secretary of Health and Human Services, and the Railroad Retirement Board

摘要

Beginning in January 1984, social security and railroad social securityequivalent benefits have been partially taxable for middle and high-income taxpayers. The Treasury Department is required to estimate the individual income tax liabilities attributable to the benefits payable during 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 quarter. This report describes the methodology used to determine (1) the transfers to the trust funds of calendar year 1991 income tax liability, (2) the necessary adjustments to the transfers for calendar year 1991, and (3) the forecast of transfers for the 1992 to 1996 period.