We’re pleased to report that a Union Pacific court win entitles many current and former UP employees to refunds of Railroad Retirement and Medicare taxes on stock awards and certain lump-sum payments for ratification of labor agreements.
Certain current and former employees who received stock compensation (e.g. Retention Shares, Retention Units, Performance Units, or from exercising stock options) and/or lump-sum bonuses paid upon ratification of labor agreements during the years 1991 through 2017 are eligible. However, not everyone who received a stock award or lump-sum ratification bonus is eligible for a refund.
The deadline to submit a Consent Form passed on March 12, 2019. We are no longer accepting submissions. If your consent was not submitted by the deadline, the IRS will not issue you a refund.
If you previously submitted a valid Consent Form, refunds were paid out in November 2019 for tax years 2008–2017 and in April 2020 for tax years 1991–2007.
The IRS previously agreed that it underpaid interest on the refunds issued with respect to tax years 1991–1997 and 2007 and has paid additional interest to employees for those years. Refunds for additional interest related to 1991–1997 and 2007 were paid on June 22, 2020.
The IRS recently agreed that it underpaid interest on the refunds issued with respect to tax years 2008–2017 and has now paid additional interest to employees for those years. Refunds for additional interest are scheduled to be paid on August 20, 2021.
Please visit the Frequently Asked Questions section of this website for additional information.
If you would like to update your address, click here.
If you would like to update your ACH information, click here.