Farmers who file and pay their income tax by March 1st do not have to make an estimated tax payment on January 15th. This is commonly called the “Farmer Tax Due Date,” however, it may be starting to become a problematic process for many producers.
Clifton Larson Allen’s Paul Neiffer spoke with RFD-TV’s Janet Adkison about the issues farmers might run into, steps they should take and if it will be better next year.
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Related:
Ag CPA offers tax filing tweaks
Thune: ‘Death Tax’ could be catastrophic for farmers
Texas A&M study finds tax proposal would raise taxes for 98% of farms