Producers battered by the blizzard to get a break; New IRS ruling.

Kiplinger Agriculture Letter, The, February, 1997

Producers battered by the blizzard will get a break from the IRS. The tax agency will extend the producers' income tax filing deadline by a month if they are in declared disaster areas in S.D., N.D. and Minn.

They will have until April 1 to file taxes. Farmers and ranchers usually don't make estimated tax payments, so law requires their returns be filed and taxes paid by March 1. The later deadline allows farmers stricken by harsh weather to focus now on saving crops, cattle and land.

Farmers who make estimated tax payments must file by April 15. Other disaster-area businesses or persons having trouble filing returns can try for an extension or seek penalty relief on a case-by-case basis.

An IRS position change on minimum tax isn't as broad...

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