HF 497: Relating to the administration of tax returns by the department of revenue, and including effective date and retroactive applicability provisions

What it does

This bill relates to the administration of tax returns by the department of revenue. The bill specifies that for any return, a taxpayer may round to the nearest whole dollar amount when entering an amount on the return, but in doing so the taxpayer must then round each amount entered on the return to the nearest whole dollar. If a taxpayer is required to calculate two or more figures together to enter an amount on the return, the taxpayer must include cents for each figure when calculating the figures together, but may round the calculated amount to the nearest whole dollar before entering that amount on the return. The bill applies retroactively to January 1, 2025, for tax years beginning on or after that date.

House subcommittee · named February 26, 2025

• Rep. Jane Bloomingdale (R) · jane.bloomingdale@legis.iowa.gov
• Rep. Christian A. Hermanson (R) · christian.hermanson@legis.iowa.gov
• Rep. David Jacoby (D) · david.jacoby@legis.iowa.gov

In plain words

1. February 20, 2025Filed in the House and sent to the Ways and Means committee
2. February 26, 2025House subcommittee named: Bloomingdale, Hermanson and Jacoby