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Mark Your Calendars! Farmers Can Avoid Tax Penalty by Filing and Paying by April 18

Posted March 21, 2022
in Top Ag News

Woman in home office reviewing paperworkJust recently announced, farmers who file and pay taxes by April 18 will not face a tax penalty by the IRS. No special form or wording is needed, simply file and pay by the 18th while indicating to the IRS that you’re a qualifying farmer (usually by filling out Form 2210-F).

This announcement comes after further guidance from the IRS on this issue. If you’re a farmer who filed and paid after March 1 and paid an underestimated tax penalty, you can now request a refund via Form 843. If your penalty paid was less than $100, a request for relief may not be practical.

Read more on tax filings, penalties and deadlines here.

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