Federal Employer's Annual Railroad Retirement Tax Return
Extracted from PDF file 2020-federal-form-ct-1.pdf, last modified February 2021
Employer's Annual Railroad Retirement Tax ReturnForm CT-1 Employer’s Annual Railroad Retirement Tax Return Department of the Treasury Internal Revenue Service Type or Print Part I 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 ▶ OMB No. 1545-0001 2020 Go to www.irs.gov/CT1 for instructions and the latest information. Name Employer identification number (EIN) Address (number and street) RRB number If final return, check here. ▶ City or town, state or province, country, and ZIP or foreign postal code Railroad Retirement Taxes. On lines 1 through 12 below, enter the amount of compensation paid in 2020 for each tax. Then, multiply it by the rate shown and enter the tax. Compensation Rate Tier 1 Employer Tax—Compensation (other than tips and sick pay) $ × 6.2% = Tier 1 Employer Medicare Tax—Compensation (other than tips and sick pay) . . . . . . . . . . . . . . . . $ × 1.45% = Tier 2 Employer Tax—Compensation (other than tips) . . . $ × 13.1% = Tier 1 Employee Tax—Compensation (other than sick pay) . $ × 6.2% = Tier 1 Employee Medicare Tax—Compensation (other than sick pay) (for tips, see instructions) . . . . . . . . . . . $ × 1.45% = Tier 1 Employee Additional Medicare Tax—Compensation (other than sick pay) (for tips, see instructions) . . . . . . . . $ × 0.9% = Tier 2 Employee Tax—Compensation (for tips, see instructions) $ × 4.9% = Tier 1 Employer Tax—Sick pay . . . . . . . . . . . $ × 6.2% = Tier 1 Employer Medicare Tax—Sick pay . . . . . . . $ × 1.45% = Tier 1 Employee Tax—Sick pay . . . . . . . . . . $ × 6.2% = Tier 1 Employee Medicare Tax—Sick pay . . . . . . . $ × 1.45% = Tier 1 Employee Additional Medicare Tax—Sick pay . . . . $ × 0.9% = Total tax based on compensation (add lines 1 through 12) . . . . . . . . . . . . . . Adjustments to employer and employee railroad retirement taxes based on compensation. See the instructions for line 14 and attach required statements. Fractions of Cents $ ± Other $ = ▶ Total taxes after adjustments (line 13 as adjusted by line 14) . . . . . . . . . . . . Nonrefundable portion of credit for qualified sick and family leave compensation from Worksheet 1 Nonrefundable portion of employee retention credit from Worksheet 1 . . . . . . . . . . Total nonrefundable credits. Add lines 16 and 17 . . . . . . . . . . . . . . . . . Total taxes after adjustments and nonrefundable credits. Subtract line 18 from line 15 . . . . Total railroad retirement tax deposits for the year, including overpayment applied from a prior year and overpayment applied from Form CT-1 X . . . . . . . . . . . . . . . . . . Tax 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Deferred amount of the Tier 1 Employer Tax . . . . . . . . . . . . . . . . . . 21 Deferred amount of the Tier 1 Employee Tax . . . . . . . . . . . . . . . . . . 22 Refundable portion of credit for qualified sick and family leave compensation from Worksheet 1 . 23 Refundable portion of employee retention credit from Worksheet 1 . . . . . . . . . . . 24 Total deposits, deferrals, and refundable credits. Add lines 20, 21, 22, 23, and 24 . . . . . . 25 Total advances received from filing Form(s) 7200 for the year . . . . . . . . . . . . . 26 Total deposits, deferrals, and refundable credits less advances. Subtract line 26 from line 25 . . 27 Balance due. If line 19 is more than line 27, enter the difference and see the instructions . . . 28 Overpayment. If line 27 is more than line 19, enter the difference ▶ $ Check one: Apply to next return. 30 Qualified sick leave compensation . . . . . . . . . . . . . . . . . . . . . . 30 31 Qualified health plan expenses allocable to compensation reported on line 30 . . . . . . . 31 32 Qualified family leave compensation . . . . . . . . . . . . . . . . . . . . . 32 33 Qualified health plan expenses allocable to compensation reported on line 32 . . . . . . . 33 34 Qualified compensation for the employee retention credit . . . . . . . . . . . . . . 34 35 Qualified health plan expenses allocable to compensation reported on line 34 . . . . . . . 35 • All filers: If line 19 is less than $2,500, don’t complete Part II or Form 945-A. • Semiweekly schedule depositors: Complete Form 945-A and see the Part II instructions on page 2. • Monthly schedule depositors: Complete Part II on page 2. You must complete both pages of Form CT-1 and sign it. 21 22 23 24 25 26 27 28 29 For Privacy Act and Paperwork Reduction Act Notice, see back of payment voucher. Cat. No. 16006S Send a refund. Next ■▶ Form CT-1 (2020) Page 2 Form CT-1 (2020) Part II Record of Railroad Retirement Tax Liability Complete the Monthly Summary of Railroad Retirement Tax Liability below only if you were a monthly schedule depositor for the entire year. Enter your Tier 1 and Tier 2 tax liability on the lines provided for each month. On Form 945-A for each payday, enter the sum of your employee and employer Tier 1 and Tier 2 taxes on the appropriate line. If you were a semiweekly schedule depositor during any part of the year or you accumulated $100,000 or more on any day during a deposit period, you must complete Form 945-A, Annual Record of Federal Tax Liability. Don’t complete the monthly summary below. Note: See the separate instructions for the deposit rules for railroad retirement taxes. Your total tax liability for the year (line V below or line M on Form 945-A) must equal your total taxes for the year (Form CT-1, line 19). Monthly Summary of Railroad Retirement Tax Liability Complete if Part I, line 19, is $2,500 or more and you were a monthly schedule depositor. Date compensation paid: First month of quarter: Tier 1 and Tier 2 taxes I First month liability First Quarter Second Quarter Third Quarter Fourth Quarter January April July October February May August November March June September December ▶ Second month of quarter: Tier 1 and Tier 2 taxes II Second month liability ▶ Third month of quarter: Tier 1 and Tier 2 taxes III Third month liability ▶ IV Total for quarter, add lines I, II, and III. V Total railroad retirement tax liability for the year. This must equal Part I, line 19 . ThirdParty Designee Sign Here . . . . Phone ▶ no. . ▶ Yes. Complete the following. Do you want to allow another person to discuss this return with the IRS? See separate instructions. Designee’s name ▶ . No. Personal identification ▶ number (PIN) Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Print Your Name and Title ▶ Signature ▶ Paid Preparer Use Only Print/Type preparer’s name Firm’s name ▶ Firm’s address ▶ Preparer’s signature Date ▶ Date Check if self-employed PTIN Firm’s EIN ▶ Phone no. Form CT-1 (2020) Page 3 Form CT-1 (2020) Form CT-1(V), Payment Voucher Purpose of Form Specific Instructions Complete Form CT-1(V) if you’re making a payment with Form CT-1. We will use the completed Form CT-1(V) to credit your payment more promptly and accurately, and to improve our service to you. Box 1—Employer identification number (EIN). If you don’t have an EIN, you may apply for one online by visiting www.irs.gov/EIN. You may also apply for an EIN by faxing or mailing Form SS-4 to the IRS. If you haven’t received your EIN by the due date of Form CT-1, write “Applied For” and the date you applied in this entry space. Box 2—Amount paid. Enter the amount paid with Form CT-1. Box 3—Name and address. Enter your business name and address as shown on Form CT-1. • Enclose your check or money order made payable to “United States Treasury.” Be sure to enter your EIN, “Form CT-1,” and “2020” on your check or money order. Don’t send cash. Don’t staple Form CT-1(V) or your payment to Form CT-1 or to each other. • Detach Form CT-1(V) and send it with your payment and Form CT-1 to the address in the Instructions for Form CT-1. Making Payments With Form CT-1 To avoid a penalty, make a payment with Form CT-1 only if one of the following applies. • Your total railroad retirement taxes for the year (Form CT-1, line 19) are less than $2,500 and you’re paying in full with a timely filed return. • You’re a monthly schedule depositor making a payment in accordance with the Accuracy of Deposits Rule. See the separate instructions for details. This amount may be $2,500 or more. Otherwise, you must make deposits by electronic funds transfer. Don’t use Form CT-1(V) to make federal tax deposits. See Electronic Deposit Requirement in the separate instructions. Use Form CT-1(V) when paying any amount with Form CT-1. However, if you pay an amount with Form CT-1 that should’ve been deposited, CAUTION you may be subject to a penalty. See Penalties and Interest in the separate instructions. ! ▲ ▼ Detach Here and Mail With Your Payment and Form CT-1. Form CT-1(V) Department of the Treasury Internal Revenue Service 1 ▼ Payment Voucher ▶ Enter your employer identification number (EIN) OMB No. 1545-0001 2020 Use this voucher when making a payment with Form CT-1. 2 Enter the amount of your payment. ▶ Make your check or money order payable to “United States Treasury.” 3 Enter your business name. Enter your address. Enter city or town, state or province, country, and ZIP or foreign postal code. Dollars Cents Form CT-1 (2020) Privacy Act and Paperwork Reduction Act Notice. We ask for the information on this form to carry out the Internal Revenue laws of the United States. You’re required to give us this information. We need it to ensure that you’re complying with these laws and to allow us to figure and collect the right amount of tax. Our authority to ask for information is found in sections 6001, 6011, and 6012(a) and their regulations. Section 6109 requires you to provide your identifying number on the return. If you don’t provide the information we ask for, or provide false or fraudulent information, you may be subject to penalties. You’re not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books and records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103. However, section 6103 allows or requires the IRS to disclose or give the information shown on your tax return to others as described in the Code. For example, we may disclose your tax information to the Department of Justice for civil and criminal litigation, and to cities, states, the District of Page 4 Columbia, and U.S. commonwealths and possessions for use in administering their tax laws. We may also disclose this information to other countries under a tax treaty, to federal and state agencies to enforce federal nontax criminal laws, or to federal law enforcement and intelligence agencies to combat terrorism. The time needed to complete and file Form CT-1 will vary depending on individual circumstances. The estimated average time is: Recordkeeping . . . . . . . . . . 11 hr., 43 min. Learning about the law or the form . . 2 hr., 7 min. Preparing, copying, assembling, and sending the form to the IRS . . . . . 4 hr., 48 min. If you have comments concerning the accuracy of these time estimates or suggestions for making Form CT-1 simpler, we would be happy to hear from you. You can send us comments from www.irs.gov/ FormComments. Or write to: Internal Revenue Service, Tax Forms and Publications Division, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224. Don’t send Form CT-1 to this address. Instead, see Where To File in the Instructions for Form CT-1.
2020 Form CT-1
More about the Federal Form CT-1 Corporate Income Tax TY 2020
We last updated the Employer's Annual Railroad Retirement Tax Return in February 2021, so this is the latest version of Form CT-1, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form CT-1 directly from TaxFormFinder. You can print other Federal tax forms here.
Related Federal Corporate Income Tax Forms:
|Form Code||Form Name|
|Form CT-1X||Adjusted Employer's Annual Railroad Retirement Tax Return or Claim for Refund|
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form CT-1 from the Internal Revenue Service in February 2021.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal Form CT-1
We have a total of ten past-year versions of Form CT-1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Form CT-1
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