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.
In 2018, the Iowa legislature enacted Senate File 2417, a state tax reform bill that includes extensive changes to the state’s tax structure. The Department has released guidance to explain the following tax change:
In 2018, the Iowa legislature enacted Senate File 2417, a state tax reform bill that includes extensive changes to the state’s tax structure. The Department has released updated guidance to explain the following tax changes:
In 2018, the Iowa legislature enacted Senate File 2417, a state tax reform bill that includes extensive changes to the state’s tax structure. The Department has released updated guidance to explain the following tax change:
In May 2019, the Iowa legislature enacted House File 590, a bill providing requirements and penalties for tax return preparers. The Department has released new guidance to explain the provisions of this act:
Des Moines, Iowa – The Iowa Department of Revenue is issuing updated income tax withholding tables for 2020 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, 2020, increasing take-home wages for individuals.
Des Moines, Iowa – The Iowa Department of Revenue has finalized the 2020 interest rate, individual income tax brackets, and individual income tax standard deduction amounts for the 2020 tax year (applicable for taxes due in 2021).
Starting January 1, 2020, the interest rate for taxpayers with overdue payments will be:
In 2018, the Iowa legislature enacted Senate File 2417, a state tax reform bill that includes extensive changes to the state’s tax structure. The Department has released new guidance to explain the following tax change: