DES MOINES — On March 23, Iowa Gov. Kim Reynolds announced a new Iowa Small Business Relief Program to support the state’s small businesses impacted by the COVID-19 pandemic. The program offered small business relief grants, administered by the Iowa Economic Development Authority. It also offered businesses a tax deferral of sales and/or withholding taxes due and waiver of penalty and interest, administered by the Iowa Department of Revenue.
The tax deferral is available to employers and businesses of all sizes impacted by COVID-19. The department expects to keep the application process open through April 30. Information about the program and the application is located at tax.iowa.gov/COVID-19, including answers to frequently asked questions.
The department has received more than 5,700 tax deferral applications and will review each application to determine deferral eligibility.
For any sales and/or withholding tax filing due during the period beginning March 20, through the close of business on April 30, the tax deferral provides an additional 60 days from the original due date to file your tax return and remit your tax payment.