BenefitsLink logo
EmployeeBenefitsJobs logo
Featured Jobs

Retirement Plan Administrator (Fort Worth TX)
Retirement Plan Administrator (Colorado Springs CO / Telecommute)

Senior Defined Contribution Account Manager (Houston TX / Dallas TX / Austin TX / Scottsdale AZ / Telecommute)
Senior Retirement Plan Administrator (Philadelphia PA / Telecommute)

Plan Administrator (Lake Mary FL / Richmond VA / Dallas TX / Los Angeles CA)
Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Get the BenefitsLink appLinkedIn
Twitter
Facebook

BenefitsLink > Q&A Columns >

Stop, Look & Listen: Railroad Retirement Benefits Q&A

Answers are provided by Robert S. Kaufman

Income Tax Based on a Cash Basis

(Posted November 16, 2014)

Question 1220: Is a December 2013 benefit payment that is received in January 2014 treated as income for 2013, or for 2014?

Answer:

Railroad Retirement payments for the year are based on what you receive in the tax year. In the example that you cited in your question, the payment made in January 2014 for the month of December 2013 is credited to the 2014 tax year.


Important notice:

Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.

The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.


Copyright 1997-2017 Robert S. Kaufman
Related links:
 
About Us

Testimonials

Privacy Policy

Post a Job

Advertise in the BenefitsLink Newsletters

Add Your Company to the Directory of Vendors and Software

Submit a News Item, Press Release, Webcast or Conference

Contact Us

Payment Portal

© 2019 BenefitsLink.com, Inc.