Were your records destroyed?

If so, Iowa is following the IRS guidelines on reconstruction of records.

IOWA TAX DEADLINE EXTENDED FOR TAXPAYERS AFFECTED BY TORNADOES AND FLOODING

Updated September 3, 2008

Taxpayers affected by tornadoes and flooding had additional time to file Iowa tax returns and pay Iowa tax.

The extended deadline was August 29, 2008, for returns and payments due after May 24, 2008, and before August 23, 2008.

Affected taxpayers were not subject to any penalty for failing to file or pay. In addition, interest was not due on payments made by August 29, 2008.

The taxes impacted by this extension were:

• Individual income tax
• Withholding tax
• Corporation income tax
• Franchise tax
• Sales and use tax, including the automobile rental excise tax and the special equipment tax
• Hotel and motel tax
• Environmental protection charge
• Inheritance tax, including the generation skipping transfer tax and the qualified use inheritance tax
• Motor fuel and special fuel tax
• Cigarette and tobacco tax

If an affected taxpayer receives a penalty or interest notice from the Department, the taxpayer should call the telephone number on the notice.

Taxpayers filing a paper return were asked to make a notation on the return stating, “Taxpayer affected by tornadoes/flooding.”   

Casualty Losses

Affected taxpayers in presidentially-declared disaster areas may claim disaster-related casualty losses on their federal income tax returns for either 2007 or 2008.  The option chosen for federal purposes will be automatically allowed for Iowa tax purposes. Taxpayers may amend their 2007 Iowa income tax returns to take advantage of this provision.

The State of Iowa Flood 2008 Web site maintains the most current lists of state and federal disaster counties.