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FAQ: Will the School Accounting System be updated to accommodate the changes with the 2024 format of the Iowa W4 form?

Yes.  As you are aware, the Iowa Department of Revenue changed the Iowa W4 form for 2024.  Since employees who previously submitted an Iowa W4 form using the old format are not required to file an updated form using the new format, the Taxes screen in the Employee File in Payroll was updated to allow the W4 information for Iowa SIT to be entered using either the new or old format.

In a recent update for the School Accounting System, the Taxes screen in the Employee File for an employee for Iowa SIT was modified and the payroll calculation process updated.  The changes include:

  • On the Taxes screen in the Employee File, the Use Old W4 Format field (in the State W4 Information section) is enabled for Iowa SIT in order to select if the W4 information being entered is from the old or new format of the Iowa W4 form.  (Tip:  When the update was installed, the Use Old W4 Format field was selected for Iowa SIT for all employees to indicate the W4 information previously entered is from the old format of the Iowa W4 form.)
  • On the Taxes screen in the Employee File, the Total Allowances field was added (in the State W4 Information section) and enabled for Iowa SIT for employees using the new format of the Iowa W4 form.  The amount to be entered into this new field is the total amount the employee has designated as the Total Allowances in Line 6 on the new format of the Iowa W4 form.
  • The payroll calculation process was updated to use the amount entered into the Total Allowances field for those employees using the new Iowa W4 format, and for the employees using the old Iowa W4 format, the system uses the corresponding amount as entered for Iowa SIT in the tax table in the Tax File (which is $40 as defined by the state).

For more information, review the details for the changes in the Release Notes included with the recent update.