A vital tax deadline is coming up on March 3 (due to the weekend) for certain farmers and fishers. To avoid estimated tax penalties, they must file their 2024 federal tax returns and pay all taxes due by March 1 if they didn’t make estimated tax payments by Jan. 15, 2025. According to the IRS, a farmer or fisher is defined as receiving at least two-thirds of his or her gross income from farming or fishing in 2023 or 2024. However, farmers or fishers who made a qualifying estimated tax payment by Jan. 15, 2025, can wait until the regular April 15, 2025, deadline to file and still avoid estimated tax penalties. Contact us for more information or visit: https://bit.ly/48k5dch
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