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AJ Taylor5 hours agoLast Updated: May 4, 2021
Governor Reynolds signed a proclamation on April 30, 2021, that provides an extension to owners of First-Time Homebuyer Savings Accounts to make required account and beneficiary designations. The proclamation also extends the time that owners of Iowa Educational Savings (529) Plans may make contributions to their accounts that may be considered made in tax year 2020. The proclamation extends both deadlines to May 30, 2021. The due date for filing 2020 Iowa individual income tax returns remains June 1, 2021 under Order 2021-01 issued by Director Paulsen on March 29, 2021. Specifics of the extensions are below.
First-Time Homebuyer Savings Accounts
Eligible taxpayers who opened an interest-bearing savings account in calendar year 2020 and who wish to participate in the first-time homebuyer savings account program normally must complete and file an Account Holder and Designated Beneficiary Form 41-162, no later than April 30 in the