• Colin Doyle CFO

Farmers, fishermen face March 1 filing deadline

By Jeff Stimpson

Farmers and fishermen who chose to forgo making quarterly estimated tax payments must file their 2018 Form 1040 along with a payment for all taxes owed by Friday, March 1, the IRS said.

This special rule normally applies to taxpayers whose farming or fishing income was at least two-thirds of their total gross income in either the current or the preceding tax year.

Farmers and fishermen choosing not to file by March 1 should have made an estimated tax payment by Jan. 15 to avoid a penalty.

The IRS recommended that affected taxpayers use the Direct. system to pay the tax amount due or make quarterly estimated tax payments directly from checking or savings accounts without any fees or pre-registration. It is available seven days a week and can be scheduled up to 30 days in advance

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