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1.401 -Deduction for Employee Social Security and Railroad Retirement Payments

Item	Description	FY2011	FY2012	FY2013	FY2014	FY2015
1.401	Deduction for Employee Social Security and Railroad Retirement Payments Taxes paid by employees to fund the Social Security and Railroad Retirement systems are deductible against "earned" income up to a maximum of $2,000 per individual. Comment: The estimate also covers item 1.402 below. Origin: M.G.L. c. 62, S. 3B(a)(3) Estimate: $288.5	297.9	281.2	287.3	287.9	288.5

Key:

ORIGIN
IRC	Federal Internal Revenue Code (26 U.S.C.)
U.S.C	United States Code
M.G.L.	Massachusetts General Laws
Rev. Rul.; C.B.	Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES	All estimates are in $ millions.