Iowa Withholding Tax Booklet And Tax Tables - 2005 Page 9
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28Iowa Department of Revenue
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Remitting the tax
Every employer is required to provide deposit information for each period during the calendar
year, even if compensation was not paid during a period. If no wages or compensation was paid
during a period, the employer should write "none" on the amount paid line of the payment
voucher if they pay by check or e-file a zero return if they use the eFile & Pay system.
Employers who pay by check must submit the payment voucher with their payment. Prior to
making payment, they should also access the eFile & Pay system to obtain a payment
confirmation number. Checks and money orders should include the employer’s Federal
Employee Identification Number, the time period to which the payment applies, and the payment
confirmation number. Make checks payable to "Treasurer - State of Iowa." Mail to Withholding
Tax Processing, Iowa Department of Revenue, PO Box 10411, Des Moines IA 50306-0411.
Electronic Payments
All semi-monthly filers are required to remit payments electronically. Beginning January 1,
2005, an e-file option was made available to all withholding agents. Withholding agents may
make semimonthly, monthly, or quarterly payments; file quarterly returns; and file the annual
Verified Summary of Payments through the Department’s new eFile & Pay system. For other
options, contact the Department, or additional information on electronic payment options may be
obtained from the Department’s website:
Quarterly Return
All withholding agents are required to file a quarterly return each quarter. You are encouraged to
file quarterly returns using the eFile & Pay system. Information required to complete the
quarterly return includes: employer identification number, tax period ending date, total tax
withheld for the quarter, prior payments made during the quarter, amount of credits claimed, and
other adjustments. Each credit claimed against withholding tax should be separately listed.
Eligible credits are the New Jobs Credit (260E), the Accelerated Career Education Program
Credit (260G), the Supplemental New Jobs Credit (15.331), and the Housing Assistance Credit
(15E.196).
End of the Year Reporting
Verified Summary Report
The withholding agent is required to submit a completed Verified Summary of Payments Report
(VSP) electronically by the last day of February. This covers the Iowa income tax withholding
payments made in the prior calendar year. The VSP must now be submitted online.
It is important that the Federal Employer Identification Number is accurate on the VSP.
Wage and tax statements (W-2)
Employers are no longer required to send copies of W-2s or 1099s with the VSP. Employers are
still required to keep copies of the W-2s and 1099s for three years from the end of the year for
which the forms apply.
W-2s must be given to employees on or before the last day of January or within 30 days of the
time the last wage payment is received if requested by the employee. This statement must
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