The Iowa Department of Revenue (DOR) published updated penalty and interests rates for various taxes effective January 1, 2025. Penalties include 5 percent for failure to file or pay on time, 75 percent for fraud or willful failure to file, and special penalties for late filings by certain businesses. Interest rates were set at 10 percent yearly, 0.8 percent monthly, and 0.027397 percent daily for 2025. The document also provided a table for calculating interest on amended returns filed in 2024. [Iowa Dep’t of Revenue, Penalties and Interest Rates, 04/01/25]
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