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 - Gettin My Old Tractor Home - by Clayton Sweeney. My name is Clayton Sweeney. I am from Southern Maryland in a small town called Lothian. I am 20 and my father and I are the proud owner of a 1954 Allis Chalmers WD-45. When I was 18, I dated a girl in the next county over. Her family are tobacco farmers. It was a cold Thanksgiving evening, and we were going up to her Grandparents house. As we passed one of their barns, I noticed something orange in the corner of my eye in this old shed. It was pretty dark and I asked what it was
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1965 International Harvester McCormick Farmall cub tractor 2,500. Two owner tractor. My grandfather bought new in 1966, then we inherited it. Have all the paperwork original manual and all maintenance records. It starts and moves. Comes with underbelly mower, plough, and some other attachments.
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