I don't understand why they can't just allow farmers to file and pay penalty free by April 15th. Is 1.5 months of interest revenue really that critical to our government's budget? Farmers make up 1% to 2% of the total employed US population.
If it was abolished a lot of farmers and ranchers wouldn't bring stuff until April 14th causing extensions to be filled and us explaining the need to make an estimated payment with the extension. Then you wouldn't see needed information to file them until October 14th. Then if they owe and you can't finalize the return in time they yell and scream about the penalty notice they receive.
When my farmers are trying to pay off their previous year's crop loan, and don't have their new year crop loan complete, coming up with the funds to make a January payment of estimated tax could be challenging.
I don't understand why they can't just allow farmers to file and pay penalty free by April 15th. Is 1.5 months of interest revenue really that critical to our government's budget? Farmers make up 1% to 2% of the total employed US population.
If it was abolished a lot of farmers and ranchers wouldn't bring stuff until April 14th causing extensions to be filled and us explaining the need to make an estimated payment with the extension. Then you wouldn't see needed information to file them until October 14th. Then if they owe and you can't finalize the return in time they yell and scream about the penalty notice they receive.
This makes me really thankful for the farm clients I take care of. Great recordkeepers, great listeners, and they take their taxes very seriously.
one extension , second extension fire the client
When my farmers are trying to pay off their previous year's crop loan, and don't have their new year crop loan complete, coming up with the funds to make a January payment of estimated tax could be challenging.