On July 1, 2023, Iowa's three major revenue generating agencies – Iowa Department of Revenue, Alcoholic Beverages Division, and Iowa Lottery – formed a single agency to make it easier to do business in Iowa. The Department of Revenue is now better positioned to provide all Iowans with information about revenue collections, compliance, licensing, and permits.
Governor Kim Reynolds authorized a Proclamation of Disaster Emergency in response to the recent floods. The Iowa Department of Revenue has updated tax guidance on how people affected by the floods, including those who may have sales tax returns due on July 1, can seek tax penalty relief:
HF2128 of the 89th General Assembly implemented changes to Iowa Code 452A.3 regarding the taxation of fuel classified as B-11 or Higher and fuel classified as B-20 or Higher to take effect July 1, 2024.
On May 15, 2024, Governor Reynolds signed into law House File 2649 which excludes capital gain from the sale of certain livestock from the computation of net income for individual income tax purposes.
The Iowa Department of Revenue is issuing updated instructions for employee withholding for wages paid in calendar year 2024.