Normally, farmers and fishermen are not required to make quarterly estimated tax payments if they file their tax return and pay taxes due by March 1 of the following year. The filing delay created by the new law meant that several tax forms needed by these taxpayers would not be ready on time.
As a result, the IRS has announced an extension of the March 1 filing deadline for farmers and fishermen to April 15.
The filing extension will apply to all farmers and fishermen, not just to those who use late-released IRS forms.
To qualify as a farmer or fisherman for 2012, at least two-thirds of the taxpayer's gross income for 2011 or 2012 must have come from farming or fishing.