Iowa Inheritance Tax 2025 Form. Iowa inheritance tax return (ia 706) is the form used for inheritance tax. 619, passed on may 19th, 2021, will completely repeal and phase out the iowa inheritance tax starting in 2021 and terminate the tax entirely by 2025.

An inherited ira is an account set up by a designated beneficiary to receive assets from the. Iowa has repealed its inheritance tax for deaths occurring on or after january 1, 2025.