IRS Extends Farmer Tax Filing Deadline
March 02, 2019
An adjustment to the filing deadline has been made to farmers’ tax returns originally due March 1. Many farmers choose to file by March 1 in order to avoid making estimated tax payments throughout the year. The 2018 tax filing season has been challenging due to the ambiguities surrounding the new 199A deduction. This deduction — see post — has several nuances that are unique to farmers who are members of a cooperative. The IRS has recognized these unique challenges and announced that farmers can file their federal tax returns by April 15, without penalty, even if they have not made estimated tax payments. Click here to read the announcement.
It is important to keep in mind that this extension by the IRS only affects federal tax returns. States across the Northeast may not necessarily waive their penalties for March 1 filers.
For more information:
Contact: Kristie Matuszewski