A Poll on the March 1 Filing "Deadline"
We take a poll on whether the March 1 filing deadline should be abolished
The March 1 option for farmers to file and pay their tax by March 1 to prevent having to pay one estimate on January 15 has been in the Code for many decades.
It is getting more difficult for many farmers to meet this deadline due to their more complex structure and delays in getting needed information. As an example, we had many tax preparers reach out to us indicating the form to file out the gas tax refund was not available for e-filing until this week. Also, many farmers have investment brokerage accounts and those 1099s tend to show up very late in February.
We thought we would do a poll on this topic today.