News

IRS removes a penalty for farmers

The IRS says it will waive the estimated tax penalty for any qualifying farmer or fisherman who files 2018 federal income tax returns and pays any taxes due by Monday, April 15^th.

The IRS says it’s taking this action because of certain rule changes that affect many farmers and fishermen who might have had difficulty determining their tax liability by what was a March 1^st deadline.

To be eligible, they must attach a Form 2210-F to their 2018 income tax return. For more information go to IRS