In December of 2019, President Trump signed the Taxpayer Certainty and Disaster Tax Relief Act of 2019 into law. This Act extends a number of expired federal tax provisions, many retroactively to tax years 2018 and 2019. Iowa has not conformed with any of these federal tax changes to the extent they apply to tax years beginning prior to January 1, 2020.
- Iowa Nonconformity: Coronavirus Aid, Relief, & Economic Security (CARES) Act of 2020
The Department has published guidance describing Iowa's nonconformity with provisions of the CARES Act of 2020 that commonly affect income taxes for individuals and businesses for tax years beginning in calendar year 2018 or 2019. Iowa generally conforms with federal tax changes, to the extent they affect Iowa income taxes, for tax years beginning on or after January 1, 2020.
In further Department updates, the following forms have been updated to reflect Iowa's nonconformity for 2018 and 2019 to both the CARES Act of 2020 and the Taxpayer Certainly and Disaster Tax Relief Act of 2019:
- 2018 IA 4562 A/B Iowa Depreciation Adjustment Schedule
- 2019 IA 4562 A/B Iowa Depreciation Adjustment Schedule
- IA 101 Nonconformity Adjustments
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