State extends tax filing and payment deadline

Posted 3/20/20

    The Iowa Department of Revenue extended the filing and payment deadline for several state tax types, including income tax.

    The changes, prompted by COVID-19, are designed to provide flexibility to hard-working Iowans whose lives have been disrupted.  Director of Revenue Kraig Paulsen signed the order on March 19.

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State extends tax filing and payment deadline

Posted

    The Iowa Department of Revenue extended the filing and payment deadline for several state tax types, including income tax.

    The changes, prompted by COVID-19, are designed to provide flexibility to hard-working Iowans whose lives have been disrupted.

    Director of Revenue Kraig Paulsen signed the order on March 19.

    The order extends filing and payment deadlines for income, franchise, and moneys and credits taxes with a due date on or after March 19 and before July 31 to a new deadline of July 31.

    Specifically, the order includes:

  • IA 1040 Individual Income Tax Return and all supporting forms and schedules.
  • IA 1040C Composite Return and all supporting forms and schedules.
  • IA 1041 Fiduciary Return and all supporting forms and schedules.
  • IA 1120 Corporation Income Tax Return and all supporting forms and schedules.
  • IA 1120F Franchise Tax Return for Financial Institutions and all supporting. forms and schedules.
  • IA 1065 Iowa Partnership Return and all supporting forms and schedules.
  • IA 1120S S Corporation Return and all supporting forms and schedules.
  • Credit Union Moneys and Credits Tax Confidential Report.

What does the deadline extension apply to?

    The tax returns listed above and any tax due associated with those returns if the due date is on or after March 19 but before July 31 of this year. The extension does not apply to estimated tax payments.

Who does the deadline extension apply to?

    Iowa residents or other taxpayers doing business in Iowa who are required to file the Iowa returns listed above.

How are penalties and interest handled?

    No late-filing or underpayment penalties shall be due for qualifying taxpayers who comply with the extended filing and payment deadlines in this order. Interest on unpaid taxes covered by this order shall be due beginning on Aug. 1.

    State income tax refunds currently are being processed at about the 30-day mark. Taxpayers can check the status of their refunds at the Department’s website where’s my refund page.

    Taxpayers and tax professionals who need assistance can contact the department by email at idr@iowa.gov or call the taxpayer services phone line at 515-281-3114 or 1-800-367-3388.