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Semimonthly/Monthly Return Instructions for Filing (WET)

Line 1:  

6% Water Service Excise Tax Deposit Amount -   Enter the total amount of 6% of Iowa water service excise tax for the filing period.

Line 2:  

Penalty - Automatically calculated by the system.

Are you filing the return late but have 90% of the tax paid by the due date?  You do not owe any penalty.

Are you filing the return late and do not have 90% of the tax paid by the due date?  You owe 10% of the tax not paid by the due date.

Did you file the return on time but did not pay 90% of the tax by the due date?  You owe 5% of the tax not paid by the due date.

Penalties can be waived only under special circumstances.  If more than one penalty applies, the 10% penalty is the only one charged.

Line 3:  

Interest - Automatically calculated by the system.

Are you paying any amount of your tax after the due date? You owe interest on the amount due. Interest accrues on the unpaid tax from the due date of the return. Any fraction of a month is considered a whole month.  Interest cannot be waived. The interest rate may change each year.

Line 4:  

TOTAL AMOUNT DUE - The total of Lines 1, 2, and 3. Automatically calculated by the system.

Calculate
Click this button to complete the calculation of the return based on the information you entered.

Continue
Click the continue button to move to the next screen.

Back
Click the back button to return to the prior screen.  Note:  Clicking this button will erase all information entered and it will not be saved.

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