March 1 Filing Part 2

We provide an update on a few more items on the March 1 farmer filing option

Photo by Irina Iriser on Unsplash

We wrote a blog post last week on the March 1 filing deadline and we did have one mistake in the post. We had indicated that taxpayers could file and pay their tax by January 31 and not have to make estimated tax payments. It should have read that taxpayers could file and pay by January 31 and not have to pay the 4th quarter estimate. This does not provide much value since the penalty on missing the 4th quarter estimate is only 16 days of interest.