The Iowa Department of Revenue is issuing updated income tax withholding formulas and tables for 2023. The Department updates withholding formulas and tables each year to account for inflation and for changes in individual income tax liability resulting from changes in Iowa law.
Des Moines, Iowa – The Iowa Department of Revenue announces individual income tax brackets and individual income tax standard deduction amounts for the 2023 tax year (applicable for taxes due in 2024) and the 2023 interest rate, which the agency charges for overdue payments.
During 2022, the Iowa Department of Revenue reorganized its administrative rules to reorganize the rules by related tax topics and to leave space in the Titles related to specific tax types for future expansion, as needed. Fifty-eight chapters have been editorially renumbered (see table). The changes were made primarily in an editorial filing effective November 2, 2022.
GovConnectIowa is the State of Iowa’s user-friendly self-service portal to register or renew certain business licenses and permits, file tax returns and reports, make payments, and more. The second rollout of a multi-year effort to simplify processes for taxpayers doing business in Iowa will launch on November 14.