IDR Announces: Changes to LOST & SAVE Distributions
July 01, 2022
On June 17, 2022, Governor Reynolds signed Senate File 2367 into law. Division II of the bill changes LOST and SAVE distributions from estimated payments to actual amounts collected each month. As a transition, the first two monthly payments of Fiscal Year 2023 (August and September 2022) will be based on estimates and the remaining ten monthly payments (October 2022 through July 2023) will be based on actual collections.
IDR Releases Updated Guidance: Extension for Certain Pass-through Entities and Updates to Iowa Composite Return
June 29, 2022
On June 28, 2022, the Director of the Iowa Department of Revenue issued Order 2022-02 granting a filing extension for short-year composite returns. The Department has updated guidance to explain this tax change as it relates to Iowa Composite Returns for Tax Year 2022 and Later.
IDR Announces: Iowa Fuel Tax Deduction for Blended Fuel Sales
June 24, 2022
Following Governor Reynolds signature of House File 2128 on May 17, 2022, the Iowa Department of Revenue has released new guidance to explain this tax change, effective July 1, 2022, as it relates to Iowa Fuel Tax Deduction for Blended Fuel Sales.
IDR Releases Updated Tax Guidance: Solar Energy System Tax Credits
June 17, 2022
On June 17, 2022, Governor Reynolds signed Iowa Acts, Senate File 2367. The Department has released updated guidance to explain this tax change as it relates to the following:
IDR Announces Sales & Use Tax Permit, Return Filing, and Payment Changes
June 17, 2022
Following Governor Reynolds’s signature of Senate File 2367, the Iowa Department of Revenue has released updated guidance as it relates to Sales and Use Tax Permit, Return Filing, and Payment Changes. Changes to sales and use tax permit registration, return filing, and tax payment take effect July 1, 2022. These changes include (click for more)
Iowa Fuel Tax Rate Change Effective July 1, 2022
June 07, 2022
Prior to July 1, 2020, the Iowa Department of Revenue used gallon totals from the Iowa Fuel Tax Monthly Report to determine tax rates for motor fuel and special fuel . Beginning July 1, 2020, the Department started using gallon totals from the Iowa Retailers Fuel Gallons Annual Report, resulting in tax rate changes to select fuel types. Based on the data for the determination period beginning January 1, 2021, and ending December 31, 2021, the Biodiesel B-11 or Higher distribution percentage increased from 61.49% to 57.75% and now falls into a different fuel tax rate category. The fuel tax rate for Biodiesel B-11 or Higher will decrease from $0.304 to $0.301 effective July 1, 2022.
Extension for Farmers/Fisherman to File and Pay 2021 Iowa Income Tax Returns
March 24, 2022
The Department has posted Directors Order 2022-01: Granting Extension Due to IRS Delay under Iowa Administrative Code Rule 701-49.6(2)"a".
IDR Releases New Tax Guidance: Sales and Use Tax Permit, Return Filing, and Payment Changes
March 18, 2022
The Iowa Department of Revenue has released new state sales and use tax guidance regarding proposed Sales and Use Tax Permit, Return Filing, and Payment Changes.
Individual Income Tax Provisions
March 14, 2022
The Department has released new tax guidance to explain House File 2317, signed by Governor Kim Reynolds, as it relates to Individual Income Tax Rate.