Posted in All-Library News

Note from City Hall about State Tax Withholding

   December 28, 2023

2024 State of Iowa Withholding Changes

 

Senate File 565 enacted by the Iowa legislature in 2023, has replaced the “number of allowances” with “amount of allowances” to be in line with federal withholding.
Because of these changes, all employees are encouraged to complete a new form W-4 using the 2024 IA W-4 form.

  • Dependent allowance = $40 per dependent
  • If the total allowances entered on line 6 of the new Form W-4 is less than $80, the employee will get the lower standard deduction of $14,600
  •  If the total allowances entered on line 6 of the new form W-4 is $80 or greater, the employee will get the higher standard deduction of $29,200.