Quickbooks, you are NOT 'listening' to this issue, continuously referring to the federal W-4 when this issue is regarding the change in the IOWA INCOME TAX and the IOWA W-4 filled out by employees to state their new payroll deductions and how bookkeepers are to update quickbooks payroll data with this new IOWA W-4 data regarding the "$40 as the total allowance amount" ... see previous post for display of what the data entry section looks like.
We are well into January, and were told:
Dear Valued Customer, |
On Wednesday, December 13, 2023, The Iowa Department of Revenue issued updated income tax withholding formulas and tables for tax year 2024. As part of the changes, the Iowa W-4 has been revised to accommodate changes in the withholding formulas and tables. Allowances on the W-4 will now be expressed as a dollar value instead of a number, as the instructions indicate on the updated form. QuickBooks is reviewing the withholding tables and formula changes and will likely have the updated tables applied later in January 2024. In the meantime, we recommend that Iowa employers begin having their employees fill out updated versions of the Iowa W-4. We will communicate to all Iowa QuickBooks Payroll customers in early 2024 when changes to the withholding tables and tax formula are complete. Employers can view the Iowa 2024 withholding formulas and tables online. Thanks, The QuickBooks Team |
