2022 IA 1120S Iowa Income Tax Return of S Corporation
Instructions

What’s New for Tax Year 2022
• The S corporation income tax return has been
redesigned. Please read the instructions carefully.
• New penalties apply for failure to timely file the
S corporation income tax return, even if no tax
is due by the S corporation. See Part 6, line 50
instructions below.
• S corporations with nonresident shareholders
have new composite return filing and tax
remittance requirements. See Composite Filing
below and the IA PTE-C Iowa Composite Return
for more information.
• New electronic filing requirements apply to
certain S corporation returns. See Time and
Place for Filing below.
• All S corporations are required to complete the
Schedule C – Business Activity Ratio, even if all
the S corporation’s business is conducted in Iowa.