IDR Releases Updated Tax Guidance: Retirement Income
Tuesday - 02/28/2023
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.
- Retirement Income Tax Guidance
This tax guidance describes what retirement income is subject to withholding and what plan administrators and taxpayers should do if Iowa income tax was erroneously withheld on their retirement income distributions.
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