Payroll

January 18, 2024

University Employees,

Your January 31st paycheck will reflect the 2024 Iowa tax withholding changes.

In December, the Iowa Department of Revenue issued a statement announcing a revised Iowa withholding formula and W-4 form starting in 2024.

The 2024 tax brackets have been revised to accommodate the tax reform bill signed into law in 2022. 

Employees are highly encouraged to file an updated Iowa W-4 form using the revised 2024 Iowa W-4 form.

Note:

• To have the 2024 Iowa W-4 form reflected on your January 31st paycheck, you must file the form by January 25th.
• Without a filed 2024 Iowa W-4 form, a default of $40 as the total allowance amount and $0 as the additional withholding amount will be used.
• Employees can make changes to their state or federal W-4 form anytime and as often as needed in Workday.
• If you are an Illinois resident or working outside the state of Iowa, please contact the Payroll office at payroll@iastate.edu to ensure you have the correct taxation.

The university is not able to give individual income tax advice. We recommend reviewing your withholding on your payslip on a regular basis and contacting a professional tax advisor for information and assistance with your personal income tax planning and adjusting your W-4 form.

October 16, 2023

University Employees,

Our team heard your feedback, and we’re pleased to provide you with additional options for your payroll direct deposit. 

Effective today – October 16, 2023 – employees can allocate their net pay to up to three different bank accounts. This is a change from the current option of having only one bank account on file for direct deposit. 

For information on how to add, update, and view direct deposit information, please view the knowledge base article here. 

Please direct any questions to the Payroll team at payroll@iastate.edu.