Under current law, you are not required to file a return on your non farm or farm income until April 15th, but depending on your situation it may cost you by not doing so. The only reason any farmer, full time or otherwise needs to file a Federal tax return by March 1st of any year was when they owed tax and had not made estimated tax payments during the tax year. Even at that the reason to file was to avoid an estimated tax penalty and or to avoid making estimated tax payments. For 2012 tax that was due on April 15th, 2013, the March 1st deadline was waived, this year farmers could have filed and paid on April 15th penalty free whether they had made estimated payments or not, there was an additional form to fill out to request the waiver.
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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