[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-303404-105":3,"detail-sidebar-cat-1-en-105":81,"doc-detail-303404-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","2020-iowa-corporation-income-tax-instructions-filing-and-compliance-updates","2020 Iowa Corporation Income Tax Instructions - Filing and Compliance Updates","","2020 Iowa Corporation Income Tax Instructions provide guidance for filing Iowa corporate income tax returns and handling specific federal conformity changes. The instructions explain rolling conformity for IRC updates, explain Iowa’s limited conformity basis for the Iowa Alternative Minimum Tax, and detail treatment for PPP loan forgiveness, NOL carryforward rules, and capital loss carrybacks. They also specify which Iowa forms and auxiliary schedules must be completed and outline filing deadlines and automatic extensions.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/paper-templates/","Paper Templates",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/2020-iowa-corporation-income-tax-instructions-filing-and-compliance-updates/303404/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/2020-iowa-corporation-income-tax-instructions-filing-and-compliance-updates/303404.png","ImageObject",442,249,{"name":42,"@type":43},"Jordan Avery","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-05","2026-09-19",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",5,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"How does Iowa conformity work for IRC changes in tax years beginning on or after January 1, 2020?","Question",{"text":63,"@type":64},"Iowa adopted rolling conformity, meaning the state automatically conforms to IRC changes made, except as specified by Iowa law.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"What are the Iowa rules for net operating losses (NOLs) for tax years beginning on or after January 1, 2009?",{"text":68,"@type":64},"Corporations cannot carry back Iowa NOLs; all NOLs are carried forward for 20 tax years, and any federal refund related to federal NOL carryback must be reported as Iowa income to the extent prior deductions were allowed.",{"name":70,"@type":61,"acceptedAnswer":71},"Which return must most regular corporations file in Iowa, and when is it due?",{"text":72,"@type":64},"Regular corporations generally file IA 1120, with calendar-year filers due no later than April 30, 2021. Fiscal-year returns are due within four months after the fiscal year ends.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},303404,1790292743,{"code":4,"msg":82,"data":83},"success",[84,89,94,99,104,109,114,119,122],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":86,"show_sort_weight":87,"slug":88},11,"Presentations",90,"presentations",{"id":90,"doc_module":22,"doc_module_name":25,"category_name":91,"show_sort_weight":92,"slug":93},12,"Resumes",80,"resumes",{"id":95,"doc_module":22,"doc_module_name":25,"category_name":96,"show_sort_weight":97,"slug":98},14,"Invoices",70,"invoices",{"id":100,"doc_module":22,"doc_module_name":25,"category_name":101,"show_sort_weight":102,"slug":103},15,"Posters",60,"posters",{"id":105,"doc_module":22,"doc_module_name":25,"category_name":106,"show_sort_weight":107,"slug":108},16,"Social Media",50,"social-media",{"id":110,"doc_module":22,"doc_module_name":25,"category_name":111,"show_sort_weight":112,"slug":113},17,"Forms",40,"forms",{"id":115,"doc_module":22,"doc_module_name":25,"category_name":116,"show_sort_weight":117,"slug":118},18,"Letters",30,"letters",{"id":120,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":55,"slug":121},21,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":82,"data":127},{"doc_id":79,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":120,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":135,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":140,"read_time":30},1099523882367,"https://ap-avatar.wpscdn.com/davatar_9964176cb1d06d4a9deccf72a44ae3dc","2020 Iowa Corporation Income Tax Instructions To obtain copies of schedules and forms:  \nAdditional information can be found on the Department website ([tax.iowa.gov](tax.iowa.gov)) .  \nQuestions:  \nEmail: [idr@iowa.gov](idr@iowa.gov)  \nPhone: 515-281-3114 or 1-800-367-3388  \nHours: 8 a. m.– 4:30 p. m. CST, Monday – Friday eFile or mail your return to:  \nCorporation Tax Return Processing Iowa Department of Revenue PO Box 10468  \nDes Moines, IA 50306-0468  \nInternal Revenue Code (IRC) Changes  \nFor tax years beginning on or after January 1, 2020 , Iowa has adopted rolling conformity, meaning the state will automatically conform to any changes made to the IRC, except as specified by Iowa law.  \nFor purposes of calculating the Iowa Alternative Minimum Tax only, Iowa conforms with the Internal Revenue Code (IRC) in effect on December 21, 2017. See IA 4626  \nPaycheck Protection Program (PPP)  \nPPP loans that are forgiven and properly excluded from gross income for federal purposes will also qualify for exclusion from income for Iowa tax purposes.  \nFor tax years beginning on or after January 1, 2020, Iowa fully conforms to the relevant tax provisions of the federal Consolidated Appropriations Act, 2021 (P. L. 116-260) including the provisions allowing certain deductions for business expenses paid using these loans.  \nNet Operating Loss (NOL) Carryback  \nFor tax years beginning on or after January 1, 2009, corporations are no longer allowed to carry back Iowa net operating losses. All net operating losses are allowed to be carried forward for 20 tax years. However, any federal refund due to the carryback of a federal net operating loss must still be reported as income on the Iowa return to the extent a deduction for federal taxes was allowed on prior Iowa returns. The federal NOL carrybacks allowed under the  \nCARES Act for tax years 2018-2020 do not apply for Iowa purposes.  \nCapital Loss Carryback  \nCorporations may still carry back a capital loss to the three preceding tax years. Refund requests for a capital loss carryback must be made on form IA 1139-CAP.  \nIA 148 Tax Credits Schedule  \nThe IA 148 Tax Credits Schedule must be completed for any tax credits claimed other than the fuel tax credit on Schedule C1 .  \nOther Forms  \nThe IA 1120X must be used to change a previously filed IA 1120 unless the change was due only to a capital loss carryback.  \nAuxiliary Schedules  \nForm IA 4562B Iowa Depreciation Accumulated Adjustment Schedule must be completed to record the cumulative effect of the depreciation adjustment and must be included with the return. Schedules F and G must be completed when net operating losses are being carried forward. Schedule H must be completed by corporations with filing status 2 or 3 to document the computation of any federal tax deduction and/or refunds included in the Iowa return.  \nSchedules I, J, and L must be used by corporations with filing status 3 to document information included in the Iowa return.  \nGeneral Instructions  \nWhich Return to File  \n• Regular Corporations: Every corporation doing business in this state or deriving income from sources within this state, unless exempt by Iowa Code section 422.34, must file an Iowa corporation income tax return, IA 1120.  \n• Cooperatives, nonprofits subject to unrelated business income tax (UBIT): Cooperative associations as defined in section 6072(d) of the IRC and entities subject to UBIT must file an IA 1120  \n• Foreign Sales Corporations (FSCs) : FSCs domiciled or incorporated in Iowa must file an IA 1120S if any income or loss is reportable to Iowa.  \n• S Corporations, Interest Charge Domestic International Sales Corporations ( ICDISCs): S corporations and IC-DISCs must file an Iowa Income Tax Return for an S Corporation, IA 1120S.  \n• Limited Liability Companies (LLCs): LLCs that are taxed as corporations for federal purposes must file IA 1120. All other LLCs must file form IA 1065, Partnership Return of Income. Single member LLCs do not need to f","cbCaigCCGI1qQkyg","https://ap.wps.com/l/cbCaigCCGI1qQkyg","pdf",201632,7,"English","# Internal Revenue Code (IRC) Changes\n## Paycheck Protection Program (PPP)\n## Net Operating Loss (NOL) Carryback\n## Capital Loss Carryback\n## IA 148 Tax Credits Schedule\n## Other Forms and Auxiliary Schedules\n# General Instructions\n## Which Return to File\n## When to File\n## Automatic Extension of Time to File","[{\"question\":\"How does Iowa conformity work for IRC changes in tax years beginning on or after January 1, 2020?\",\"answer\":\"Iowa adopted rolling conformity, meaning the state automatically conforms to IRC changes made, except as specified by Iowa law.\"},{\"question\":\"What are the Iowa rules for net operating losses (NOLs) for tax years beginning on or after January 1, 2009?\",\"answer\":\"Corporations cannot carry back Iowa NOLs; all NOLs are carried forward for 20 tax years, and any federal refund related to federal NOL carryback must be reported as Iowa income to the extent prior deductions were allowed.\"},{\"question\":\"Which return must most regular corporations file in Iowa, and when is it due?\",\"answer\":\"Regular corporations generally file IA 1120, with calendar-year filers due no later than April 30, 2021. Fiscal-year returns are due within four months after the fiscal year ends.\"}]","2020 Iowa Corporation Income Tax Instructions - Filing and Compliance Updates | PDF",1789803119]