For tax years beginning on or after January 1, 2019, and before January 1, 2020, Iowa conforms with the federal Internal Revenue Code (IRC) in effect on March 24, 2018. For tax years beginning on or after January 1, 2020, Iowa has adopted rolling conformity with the IRC. Iowa did not conform with many of these changes for tax year 2018. See the 2018 Iowa Nonconformity Adjustments Worksheet for information about how to make the necessary adjustments for Global Intangible Low Tax Income (GILTI), Foreign Derived Intangible Income (FDII), and other Tax Cuts and Jobs Act (TCJA) items for tax year 2018.
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