Should You File an Estimated Income Tax Return?

Did meeting a March 1 filing deadline give you heartburn this year? If yes, there is something you can do about it. Some farmers are under the erroneous idea that all farm tax returns are due on March 1. This is a misconception. Individual calendar year taxpayers have an April 15 deadline. However, if they owe income tax, they may be subject to a penalty for underpayment of estimated taxes. Farmers have a special provision that allows them to avoid this penalty if they file their return by March 1. There is also another provision that they may use.  Click here to read the full story.