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Department of Revenue explains what Branstad didn’t veto
The Iowa Department of Revenue explains in an e-mail to practitioners the provisions enacted this week when Governor Branstad signed most of SF 533: Immediate Income Tax Changes for Iowa Taxpayers...
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Iowa’s Capital Gain Deduction: your capital gains probably don’t qualify
Taxpayers have for years been confused by Iowa’s capital gain deduction. It’s only available for certain business sales when the owner has held the business for at least ten years and has “materially...
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Iowans: remember to deduct that health insurance!
Jason Dinesen explains Iowa’s above-the-line deduction for health insurance.
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Iowa Senate subcommittee moves huge expansion of sales tax nexus
The state legislature is looking to pass a huge expansion of Iowa’s ability to collect sales tax from out-of-state businesses. The bill is in the guise of “protecting Main Street” from the predations...
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Tax Roundup, 6/5/15: Iowa adds deductions to 1041s. And: the dangers of...
Federal 706 costs good for Iowa 1041. The Iowa General Assembly yesterday eased restrictions on administrative deductions for fiduciaries. Iowa uses federal taxable income, with modifications, as its...
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Iowa’s guidance on 2016 return uncoupling: Section 179 and bonus depreciation.
Uncoupled. The Iowa Department of Revenue has released guidance to help taxpayers deal with the legislature’s decision to uncouple Iowa 2016 tax law from the federal 2015 extenders act. Not all issues...
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Iowa guidance on 2016 return uncoupling: IRA charitable distributions
Forever 69. The 2015 PATH Act made the charitable distribution rule for IRAs a permanent part of the federal tax law. The popular rule allows taxpayers required to take annual distributions from the...
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Iowa guidance on 2016 return uncoupling: S corporation built-in gains and...
Iowa’s Built-in Gain Surprise. The federal “extenders” bill passed in December 2015 made permanent two significant provisions for S corporations: Reducing the built-in gains tax “recognition period” to...
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Second thoughts on Iowa pass-through Sec. 179 guidance?
The Iowa Department of Revenue’s FAQ page for Sec. 179 de-coupling guidance is shorter this afternoon than it was when it went up late Friday. They have removed the pass-through entity portion of the...
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Tax Roundup, 4/5/17: Iowa uncoupling bill clears House, 98-0. In the links:...
On April 4, Iowa moves closer to settling their 2016 tax law. The Iowa House yesterday passed HF 608, “An Act relating to the technical administration of the tax laws by the department of revenue,...
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