Farmer tax filing date now April 15
CHARLESTON -- The West Virginia State Tax Department will extend the deadline for farmers to file their personal income taxes from March 1 to April 15, according to acting State Tax Commissioner Charles O. Lorensen.
The decision follows the Internal Revenue Services announcement that it would provide relief from the estimated tax penalty for farmers unable to file and pay 2012 taxes by the original March 1 deadline.
A taxpayer qualifies as a farmer if at least two-thirds of the taxpayer's total gross income was from farming in 2012. Farmers are required only to make one estimated payment for 2012, due Jan. 15, 2013. However, if the taxpayer does not pay by Jan. 15 but files the return and pays the tax due by April 15, the taxpayer will not receive a penalty. If the return and payment of tax is received after April 15, estimated penalties will apply.
The extension stems from last month's American Taxpayer Relief Act, which affected some federal tax forms, including Form 4562, which involves depreciation and pay-back.
"This relief applies to all farmers, not only those who must file forms that were released later than usual," Lorensen said in a press release.
Taxpayers must attach federal Form 2210-F and State Form IT-210 to their returns. The forms can be submitted electronically or on paper. They should check the waiver boxes and provide identification numbers.