Important Upcoming IDR Tax Deadlines: Income & Franchise Tax Return

Wednesday - 10/21/2020

As a result of the August 10, 2020, derecho storm that affected Iowa, the Internal Revenue Service extended until December 15, 2020, certain tax-filing and tax-payment deadlines falling on or after August 10, 2020, and before December 15, 2020. The Iowa Department of Revenue has not extended deadlines for returns and other forms with an original due date during this period.

Iowa individual, fiduciary, partnership, S corporation, and C corporation income tax returns, and franchise tax returns must be filed on or before the last day of the fourth month following the close of the tax year. Normally, for calendar year filers, the due date is April 30. Any taxpayer who has paid 90% or more of its correct tax on or before the due date of its return automatically has an additional six months in which to file its return and pay any additional tax due with no penalty, although interest continues to accrue from the due date. The automatic six-month extension also applies to filers who have a zero balance due. Under normal circumstances this extended filing deadline falls on October 31 for calendar year filers.

Important Reminder: Order 2020-01 signed by the Director on March 19, 2020, changed the deadline for filing certain income tax returns with a due date on or after March 19, 2020, and before July 31, 2020, to July 31, 2020. This meant that for calendar year filers, the due date to file a 2019 Iowa tax return was extended from April 30, 2020, to July 31, 2020. As a result, tax year 2019 calendar year filers who qualified for the automatic six-month extension (normally October 31, 2020) will have until January 31, 2021, to file their 2019 Iowa income and franchise tax returns.

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Contact Email
john.fuller@iowa.gov
Phone
(515) 318-8864