We recommend reviewing your W-4 status at least once a year, especially with recent changes to federal and state tax laws. Please note, Payroll Services cannot provide individual tax guidance.
Qualified Overtime Premium Pay Information for 2025
The University of Iowa will be providing a statement to employees who meet the criteria of qualified overtime premium pay for 2025. It applies only to overtime required under the Federal Labor Standards Act. This statement will be available at the same time W-2s are available online. The statement will be located in Employee Self-Service:
- Selecting the Time & Pay tile
- Under taxes choose Year-End Taxes
For information about how qualified overtime may affect your tax return, please visit the IRS website. Payroll Services is not authorized to provide tax advice. For guidance on your individual tax situation, consult a tax professional.
2026 tax withholding
W-4 forms (employee withholding certificates)
Information regarding the Federal W-4 form can be found on the IRS website. Information for the Iowa W-4 form can be found on the State of Iowa website.
Please note that University of Iowa cannot provide individual guidance on completion of the W-4 or any related tax implications. We recommend that you contact your tax consultant with any questions you may have.
State of Iowa income tax withholding
The Iowa Department of Revenue issued updated income tax withholding tables for 2026 as well as a revised Iowa W-4 form. These updates were done to account for inflation and for changes in individual income tax liability resulting from changes in tax laws. More tax information as well as a withholding estimator can be found on the Iowa Department of Revenue site.
State of Illinois income tax withholding
The State of Illinois withholding tax rate is 4.95%.
Federal income tax withholding
Federal tax withholding tables have changed for 2026 based on inflation. Please refer to the IRS Publication 15-T, Federal Income Tax Withholding Methods, for the current tables. The IRS provides a tax withholding estimator to help you determine your withholding.
Social Security tax
The Social Security withholding tax rate is 6.2%. The 2026 wage limit on which Social Security tax is calculated is $184,500.
Medicare tax
The Medicare withholding is 1.45% up to $200,000 and 2.35% for wages received in excess of $200,000.