Whether you sustain an on-the-job injury and are unable to work, or if you are approaching the age of retirement, it is important for you know what benefits are available through your contributions to the U.S. Railroad Retirement Board (RRB).
And yes, as we’re all well aware, it is that time of year again: Tax time. For many railroaders who receive RRB benefits, or who are going to receive RRB benefits, tax time is especially confusing. Many tax professionals do not know about the special considerations for RRB beneficiaries.
I recently attended a benefits seminar where a representative of the U.S. Railroad Retirement Board addressed some of the issues regarding Federal income tax and benefits received by railroaders from the RRB. At the seminar, a pamphlet was provided on general information concerning these issues.
Because many of our friends in the industry were unable to attend this seminar, we have available for download the pamphlet for your information – we hope you find it informative. Click here for the RRB pamphlet entitled, “Federal Income Tax and Railroad Retirement Benefits.”
It was recommended that railroaders contact the nearest office of the U.S. Railroad Retirement Board for questions on RRB statements, and the nearest office of the Internal Revenue Service for additional information on federal income tax concerns. Click here to find your nearest RRB office.
You can rest assured that Hoey &, Farina will continue to keep up to date on all issues regarding railroad workers so we may continue to provide the best of legal services and advice.
For more on RRB Benefits, please read Straight Track: "Disability Benefits: What Every Railroader Needs To Know."