On June 29, 2020 Governor Reynolds signed into law House File 2641. The Department has released guidance to explain this tax change as it relates to the following:
The Iowa Department of Revenue has released new sales tax guidance:
The Iowa Department of Revenue has released new guidance as it reflects to Sales Tax.
The Iowa Department of Revenue is issuing updated income tax withholding formulas and tables for 2021 to continue to align Iowa withholding with recent changes in state tax laws.
For individuals, this means that employers will be reducing the amount of Iowa tax withheld from employees’ paychecks, beginning January 1, 2021, increasing take-home wages for individuals.
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.