Iowa Tax Day Two Weeks Away

Apr 17, 2016

Though Monday is the deadline to file federal income tax returns, Iowans still have another two weeks before they must hand over their state income taxes. 

The Iowa Department of Revenue advises Iowans to file electronically, and depending on your income and veteran status there is software people can use for free.

"If you are going to get a refund, you will get it much quicker," says IDR spokeswoman Victoria Daniels. "A lot of the software programs, they actually do the calculations for you, and so you are less likely to have mistakes."

Filing electronically also saves the state money. While it take less than $1 for the IDR to process an e-filing, Daniels says it takes more than $2 to process a paper return. 

In addition to a later filing deadline, IDR also has different rules for tax extensions. The state doesn't allow for extra time to file, but as long as you pay 90 percent of what you owe by May 2 you won't be penalized. But Daniels cautions not to miss the May 2 deadline.

"If you don’t file on time and you don’t pay on time, then you’re going to be hit with a 10 percent penalty. And then also, if there is an amount due, that will earn interest at five percent a year," she says.

The IDR reports more than 90 percent of Iowans get their tax refunds within two weeks of filing electronically.