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Veteran Contributor

IRS farm tax deadline/ Illinois

In its infinite wisdom the IRS has determined that with the late decisions by our leaders in Congress that farmers and tax preparers will have a difficult time getting our taxes done by March 1st.  So Jan. 18th our deadline was extended to April 15th.  Thank you Charles Grassley.  Tax forms are yet to be printed and the tax programs preparers use are still not functioning.    Some states like Indiana, Iowa, Minnesota, Nebraska and West Virginia have also extended their state tax deadline until April 15th.  That's the good news.  Now for the bad news...   It will be nearly impossible to finish our federal taxes by March 1st in order to get our Illinois taxes done by the Illinois deadline.     Illinois state income tax law is based upon Federal form 1040 information.  They have yet to extend their deadline to April 15th.  Yikes.   I'd like to suggest contacting state senators and representatives to inform them of this latest catch-22.  I haven't seen much in the farm press about this but if anyone has a link please post it.  We need to have the Illinois and other state deadlines extended to the federal tax deadline of April 15th.  The clock is ticking....

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4 Replies
Advisor

Re: IRS farm tax deadline/ Illinois

ummmm . . . hasn't anyone told you about filing an extension!  I find it amusing that taxpayers get stressed by due dates for filing tax returns, especially those with refunds coming, which means if you owe no tax but have a refund coming you can file your return anytime.  If you owe tax send a check with the extension.  

 

Better yet, just pay the late payment penalty, no one is going to go to jail for not fiiing on time, and besides Leavenworth is not really that cold in the Winter time. .  I think some people just need an "ordeal" in their lives every year.  

 

Oh yes.  If you want an extension, you have to now file an IRS form signed by you with your preparer . . . no more just letting your tax man go ahead and extend your return automatically like he has done in the past.   Adios Amigo. John   

 

 

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Honored Advisor

Re: IRS farm tax deadline/ Illinois

I can understand having to sign for an extension.  Some preparers may have done this without taxpayer consent or knowledge, and now you cannot say you didn't know.  

 

The form not ready according to what my CPA told me is the one for depreciation.  The drama over what Section 179 deductions would be this year caused the delay.  Not really a big deal, from what she told me, and I appreciate having  the extra time this year.  

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Highlighted
Frequent Contributor

Re: IRS farm tax deadline/ Illinois

FYI - The Illinois tax filing and payment deadline for qualified farmers has been April 15th for several years. 

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Veteran Contributor

Re: IRS farm tax deadline/ Illinois

Thanks.  Some tax preparers aren't real sure what the date is and the Illinois Department of Revenue was slow to respond to my questions.  They're trying to get by on half the employes they had a few years ago so I had to be patient. 

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