Iowa 1099 Reporting Requirements

Does Iowa mandate you file 1099 Forms?

Yes, the Iowa Department of Revenue requires the filing 1099 Forms.

Does Iowa participate in the CF/SF program?

No, The State of Iowa does not participate in the Combined Federal or State Filing Program (CF/SF) program.

What types of 1099 forms does Iowa require?

You must file the required 1099 forms only if there is a state tax withholding.

Does Iowa have any additional requirements?

You are responsible for filing annual reconciliation form “Iowa Withholding Annual VSP (Verified Summary of Payment) Report 44-007”.

What is VSP Form 44-007?

VSP Form 44-007 is an annual reconciliation used to report employee/payee earnings and Iowa state taxes withheld during the year. You need to file the VSP if you are registered as an Iowa withholding agent and issue 1099s that have Iowa withholding. Do not mail any payment or copies of 1099s with the VSP.

What are the due dates to efile 1099 & VSP Form 44-007 electronically?

The filing due date for both the Form 1099 & VSP Form 44-007 is the last day of January.

What are the electronic filing requirements?

The State of Iowa accepts only 1099 online filings.

What is the penalty for filing Federal Form 1099 and Iowa State VSP Form 44-007?

A penalty of 10% will be added to the tax due for failure to file W2 forms in a timely fashion if at least 90% of the correct amount of tax is not paid by the due date. A penalty of 5% of the tax due will be added if the return is mailed in on time but 90% of the correct amount of tax is unpaid by the due date.

Learn more about the 1099 Form penalties in detail by visiting https://www.taxbandits.com/form-1099-series/1099-misc-penalties/.

Where do I mail 1099 Forms for Iowa?

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Upcoming Deadline: Forms 5498, 5498-SA, 5498-ESA are due on May 31st, 2019.