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WE DON'T LIKE SURPRISES
March 29, 2005
As we are about to enter the final month of tax season, hundreds of thousands of Iowa returns have already been filed. Many of these returns are computed assuming that the Iowa General Assembly will pass HF 721, which would bring Iowa tax law up to date with the federal changes enacted in the last year.
Like a second marriage, this faith in the responsibility of our legislature is a triumph of hope over experience. Yet we take a number of deductions, such as the January Tsunami contribution deduction, based on this faith.
The Senate has been sitting on HF 721 since February 17. There's no indication that it is controversial, and we expect it to pass.
Yet... the legislature has surprised us before. Let's hope they don't surprise again.
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Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not neccesarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to
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