What is the official ID of this bill?
The official print number for this legislation is S 738.
Tax Relief for Workers: Deduction for Union Dues and Unreimbursed Expenses.
This Act aims to make it easier for employees to deduct work-related costs from their taxes. It allows for the deduction of union dues and certain unreimbursed business expenses directly from income, potentially lowering the taxable amount. This means workers could keep more of the money currently spent on mandatory union fees or job-related costs not covered by the employer.
Key points
Union Dues Deduction: Allows workers to deduct union dues and expenses directly from their gross income (an 'above-the-line' deduction).
Unreimbursed Expenses: Reinstates the ability to claim other unreimbursed employee business expenses as a miscellaneous itemized deduction, removing the current restriction that requires these costs to exceed 2% of adjusted gross income.
Financial Impact: These changes apply to tax years beginning after December 31, 2022, potentially increasing tax refunds for employees who incur these work-related costs.
Status:
Expired
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