Extended Tax Filing Deadline for Farmers and Ranchers
Extension Contact: Austin Duerfeldt - Agricultural Systems Economist Extension Educator
We are in the dead of tax season. Filing has been slow due to constant software updates and additional time required by tax preparers to ensure accurate reporting under the new tax law. This week the IRS announced in Notice 2019-17 an extension to the March 1 deadline for farmers who did not make estimated tax payments by January 15, 2019. Under the Notice, farmers have until April 15 (April 17 in Maine or Massachusetts) to file their 2018 returns and pay in full any tax due. The Notice waives the IRC section 6654 penalty for failure to make estimated tax payments for these farmers and fishermen, but the relief must be requested.
Farmers and fishermen requesting the waiver of the addition to tax must attach Form 2210-F, Underpayment of Estimated Tax by Farmers and Fishermen, to their 2018 tax return. The form can be submitted electronically or on paper. The taxpayer’s name and identifying number should be entered at the top of the form, and the waiver box (Part I, Box A) should be checked. The rest of the form should be left blank.