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Many States Are Delaying Farmer Filing Deadline

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February 3rd, 2013

As discussed in a couple of other posts, the IRS has extended the farmer filing deadline from March 1, 2013 to April 15, 2013 for those farmers who “miss” the March 1 deadline.  We are starting to see various states follow suit as follows:

Some states base their filing deadline using the federal law such as Illinois and Kansas.  If you live in one of these states, you may not get a notice stating the state has granted relief until April 15 since they are basing your filing deadline on Federal rules.  If this applies to your situation, we would strongly suggest reviewing this with your tax advisor now to determine if your due date is March 1 or April 15.

Since most state income tax law and e-file systems are based upon the federal form 1040 information, we believe that most states will follow the Federal rules on filing your 2012 form 1040, but as someone said to me lately, “logic and tax law do not necessarily go together”.

Paul Neiffer, CPA

Paul Neiffer

Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a partner with CliftonLarsonAllen in Yakima, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. In fact, Paul drives combine each summer for his cousins and that is what he considers a vacation.

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5 Comments

  • February 7, 2013 at 1:37 pm

    Tom Yaxley

    anything from Illinois?

  • February 7, 2013 at 2:10 pm

    Paul Neiffer

    I went to their website and have not seen anything update on it. They may follow IRS rules and it would be automatic, but I could not find it quickly.

  • February 13, 2013 at 5:59 pm

    Bob Saner, CPA

    IL follows Federal due date. See page 3 of 2012 IL-1040 instructions.

  • February 15, 2013 at 9:37 am

    Ray Watson

    In response to a recent inquiry about whether farmers are required to make estimated payments for their Illinois Income Tax by March 1, Paul Caselton, of the Illinois Department of Revenue wrote the following:

    IRC [Internal Revenue Code] Section 6654(i) requires farmers and fishermen to make only one estimated tax payment each year. It is due on January 15 for calendar year taxpayers, which is the same date as the last estimated tax installment is due for other individuals. That section also provides that no payment is due on January 15 if the farmer files his or her income tax return and pays the tax liability by March 1.

    Under IITA [Illinois Income Tax Act] Section 803(a), farmers are exempt from making estimated tax payment, period. There is no January 15 due date, and no March 1 filing requirement. Farmers, as is true with all individuals, must pay their taxes by April 15 and are allowed an automatic extension for filing (but not payment) until October 15.

    Paul

    Sec. 803. Payment Of Estimated Tax.
    (a) Every taxpayer other than an estate, trust, partnership, Subchapter S corporation or farmer is required to pay estimated tax for the taxable year, in such amount and with such forms as the Department shall prescribe, if the amount payable as estimated tax can reasonably be expected to be more than (i) $250 for taxable years ending before December 31, 2001 and $500 for taxable years ending on or after December 31, 2001 or (ii) $400 for corporations.

    Ray Watson, IDOA GC

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