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The Tax Cuts and Jobs Act of 2017 made significant changes to how tax law treated union dues. Union members cannot deduct any union dues from 2018 to 2025 even if they itemize their deductions. An ...
The initiation fee covers the administrative costs of joining the union. Fees may, however, be ongoing. For example, a union program (such as a welfare or benefit fund) may be offered only to those union members who pay a regular fee to participate in the fund. Most union workers pay a fee when they start working for a company.
The dissenting judges argued that union fees merely paid for benefits of collective bargaining that non-members otherwise received for free. These factors led campaign finance reform to be one of the most important issues in the 2016 US Presidential election , for the future of the labor movement, and democratic life.
Janus v. American Federation of State, County, and Municipal Employees, Council 31, No. 16-1466, 585 U.S. ___ (2018), abbreviated Janus v.AFSCME, is a landmark decision of the US Supreme Court on US labor law, concerning the power of labor unions to collect fees from non-union members.
Before the TCJA, investors could deduct financial advisor fees if they exceeded 2 percent of their adjusted gross income (AGI) in 2017 and prior tax years. But this really only provided a measure ...
Starting in January 2020, there’s a new design for Form W-4.The IRS explained that the redesign will reduce confusion for filers and enhance the transparency of the tax withholding system.
The steps required to become a nonprofit include applying for tax-exempt status. If States do not require the "determination letter" from the IRS to grant non-profit tax exemption to organizations, on a State level, claiming non-profit status without that Federal approval, then they have actually violated Federal United States Nonprofit Laws.
Most HOA fees are not tax deductible, but there can be exceptions. “As is often the case in federal tax, the answer is — it depends,” said Karen Wallace, assistant professor in Adelphi ...