New Iowa tax code will put more money in some people's pockets

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By Andy Devine, Multimedia Journalist - bio | email

KEOKUK, Ia. (WGEM) -

If you live in Iowa, a new tax law could put more money in your pocket.

The bill aligns the Iowa and federal tax codes, including extending the child tax credit at it's current level of $1,000.

It also extends the earned income tax credit and student loan interest deduction.

And for teachers, it extends the out-of-pocket expense deduction.

These new changes will not affect your 2012 taxes.

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