WASHINGTON — The Internal Revenue Service announced today that it will issue guidance in the near future to provide relief from the estimated tax penalty for farmers and fishermen unable to file and pay their 2012 taxes by the March 1 deadline due to the delayed start for filing tax returns.
The delay stems from this month's enactment of the American Taxpayer Relief Act (ATRA). The ATRA affected several tax forms that are often filed by farmers and fishermen, including the Form 4562, Depreciation and Amortization (Including Information on Listed Property). These forms will require extensive programming and testing of IRS systems, which will delay the IRS's ability to accept and process these forms. The IRS is providing this relief because delays in the agency's ability to accept and process these forms may affect the ability of many farmers and fishermen to file and pay their taxes by the March 1 deadline. The relief applies to all farmers and fishermen, not only those who must file late released forms.
Normally, farmers and fishermen who choose not to make quarterly estimated tax payments are not subject to a penalty if they file their returns and pay the full amount of tax due by March 1. Under the guidance to be issued, farmers or fishermen who miss the March 1 deadline will not be subject to the penalty if they file and pay by April 15, 2013. A taxpayer qualifies as a farmer or fisherman for tax-year 2012 if at least two-thirds of the taxpayer's total gross income was from farming or fishing in either 2011 or 2012.
Farmers and fishermen requesting this penalty waiver must attach Form 2210-F to their tax return. The form can be submitted electronically or on paper. The taxpayer's name and identifying number should be entered at the top of the form, the waiver box (Part I, Box A) should be checked, and the rest of the form should be left blank. Forms, instructions, and other tax assistance are available on IRS.gov.
TaxACT Free Federal and Deluxe Editions include step-by-step guidance for Form 2210-F. Start your return now.
November 2 — Social security, Medicare, and withheld income tax.
File Form 941 for the third quarter of 2015. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter timely, properly, and in full, you have until November 10 to file the return.
November 2 — Certain small employers
Deposit any undeposited tax if your tax liability is $2,500 or more for 2015 but less than $2,500 for the third quarter.
November 2 — Federal unemployment tax
Deposit the tax owed through September if more than $500.
November 2 — Form 720 taxes.
File Form 720 for the third quarter of 2015.
November 2 — Wagering tax
File Form 730 and pay the tax on wagers accepted during September.
November 2 — Heavy highway vehicle tax
File Form 2290 and pay the tax for vehicles first used in September.
November 10 — Employees who work for tips
If you received $20 or more in tips during October, report them to your employer - Details
November 10 — Social security, Medicare, and withheld income tax.
File Form 941 for the third quarter of 2015. This due date applies only if you deposited the tax for the quarter timely, properly, and in full.
November 11 — Everyone
Federal Holiday (Veterans Day) - Details
November 12 — Communications and air transportation taxes under the alternative method.
Deposit the tax included in amounts billed or tickets sold during the first 15 days of October.
November 13 — Regular method taxes
Deposit the tax for the last 16 days of October.
November 16 — Social security, Medicare, and withheld income tax
If the monthly deposit rule applies, deposit the tax for payments in October. Nonpayroll withholding. If the monthly deposit rule applies, deposit the tax for payments in October.
November 25 — Communications and air transportation taxes under the alternative method.
Deposit the tax included in amounts billed or tickets sold during the last 16 days of October.
November 27 — Everyone
Federal Holiday (Thanksgiving Day) - Details
November 27 — Regular method taxes
Deposit the tax for the first 15 days of November.
November 30 — Wagering tax
File Form 730 and pay the tax on wagers accepted during October.
November 30 — Heavy highway vehicle use tax
File Form 2290 and pay the tax for vehicles first used in October.