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On February 20, 2023, Governor Kim Reynolds signed Senate File 181. The Iowa Department of Revenue has released updated tax guidance addressing withholding requirements for distributions of retirement income for tax years beginning on or after January 1, 2023.

Governor Reynolds signed Senate File 181 into law. Division I of the bill addresses the assessment limitation (or rollback) calculation for residential property. The Department has issued an Order certifying the new assessment limitation. The bill also gives local governments additional time to certify their budgets.

The Iowa Department of Revenue has released updated tax guidance addressing the electronic filing requirement for businesses, trusts, and estates. Order 2023-01 offers limited relief from the requirement that certain business entities file their returns in an electronic format.

The Iowa Department of Revenue has released new tax guidance addressing the electronic filing requirement for businesses, trusts, and estates. Beginning in 2023, certain business entities are required to file their 2022 and later Iowa income tax returns electronically.

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.

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:

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.

The Iowa Department of Revenue has released new tax guidance as it relates to the Farm to Food Donation Tax Credit.

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.