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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 began processing individual income returns at the same time as the IRS on January 29. This is because Iowa taxpayers are required to provide their federal return with their Iowa return.
Iowa Department of Revenue Director Mary Mosiman recently received the Patriot Award, which recognizes organizational leaders who provide outstanding support to Iowa Guard and Reserve members.
The Iowa Employer Support of the Guard and Reserve (ESGR) presented the Award to Mosiman at the Hoover Building in Des Moines.
2023 Iowa Acts, Senate File 565 made changes to the Iowa Department of Revenue’s settlement and abatement laws and authority, effective January 1, 2024. The Department has adopted new rules to implement this law change. See Iowa Administrative Code chapter 19 for more information.
Iowa Code section 423.3(47)(a)(4) provides a sales and use tax exemption for purchases of computers and computer peripherals used in processing or storage of data or information by an insurance company, financial institution, or commercial enterprise. These entities are defined in Iowa Code section 423.3(47)(d).
The Iowa Department of Revenue is issuing updated income tax withholding formulas and tables for 2024. The Department updates withholding formulas and tables when necessary to account for inflation and for changes in individual income tax liability resulting from changes in Iowa law.
The Department has extended the deadline to make a Pass-Through Entity Tax (PTET) election for tax year 2022 from January 2, 2024 to April 30, 2024. As a result, a tax year 2022 PTET election must be made by the later of the following dates:
The 2022 Iowa General Assembly enacted and Governor Reynolds signed Senate File 2378, a bill that made changes to Iowa’s beverage container deposit and redemption law, commonly known as the “bottle bill.” Beginning November 15, 2023, Iowa Code section 455C.5(1)(b) requires the registration of universal