By Bob Eschliman
Editor
Under a bill proposed last week in the Iowa Senate, anyone 65 years of age or older would become tax-exempt.
Senate File 261, offered Thursday by state Sen. Mark Chelgren (R-Ottumwa), would exempt anyone 65 years old or older from the Iowa individual income tax. Period.
“Exempt individuals are no longer required to make and file an income tax return and employers are no longer required to deduct and withhold wages from exempt individuals,” the bill’s explanatory statement reads. “The bill takes effect upon enactment and applies retroactively to tax years beginning on or after January 1, 2015.”
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