IDR helps you prepare for tax time
With tax filing season upon us, the Iowa Department of Revenue is reminding Iowans of the many resources available that can assist taxpayers with filing their tax return. The Department will begin processing returns at the same time as the IRS on February 12. This is because Iowa taxpayers are required to provide their federal return with their Iowa return. Iowa income tax returns are due on April 30.
IDR Releases Updated Guidance: Iowa Composite Return (IA PTE-C)
The Department has updated its Iowa Composite Return tax guidance. Notably, a new exemption from filing tax year 2022 Iowa Composite Returns (IA PTE-C) is provided for the following pass-through entities:
IDR Releases Updated Tax Guidance: Farm to Food Donation Tax Credit
The Iowa Department of Revenue has released new tax guidance as it relates to the Farm to Food Donation Tax Credit.
IDR Releases New Tax Guidance: 2023 Changes to Iowa Individual Income Tax
The Iowa Department of Revenue has released new tax guidance as it relates to 2023 Changes to Iowa Individual Income Tax. This tax guidance is related to individual income tax changes that will become effective for tax years beginning in tax year 2023.
Administrative Rules - Emergency Rulemaking
With recent public concerns shared with the Iowa Department of Revenue following the official public comment period and effective date of the new rule (701—216.3) implementing the taxable service of commercial recreation, the Department is submitting an emergency rulemaking to rescind the new rule and replace it with the prior rule.
IDR Releases New Tax Guidance: Electronic Filing Requirement for Certain Tax Types
The Iowa Department of Revenue has released new tax guidance addressing the electronic filing requirement for businesses, trusts, and estates.
IDR Issues New Income Withholding Tax Tables for 2023
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.
IDR Releases New Tax Guidance: Retirement Income Exclusion
The Iowa Department of Revenue has released new tax guidance addressing the retirement income exclusion language contained within HF2317. The legislation excludes retirement income from Iowa taxable income for eligible taxpayers for tax years beginning on or after January 1, 2023.
IDR Announces 2023 Interest Rates, Deductions, Income Tax Brackets
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.