Kansas to follow IRS in Farmer/Fishermen relief of tax underpayment penalty
TOPEKA - The Internal Revenue Service has announced they will waive the estimated tax penalty for any qualifying farmer or fisherman who files his or her 2018 federal income tax return and pays any tax due by Monday, April 15, 2019.
The Kansas Department of Revenue will also waive any underestimate penalties for farmers and fishermen if the Kansas return is filed and any tax due is paid by Monday, April 15, 2019.
A taxpayer qualifies as a farmer or fisherman for the 2018 tax year if at least two-thirds of the taxpayer’s total gross income was from farming or fishing in either 2017 or 2018.
For more information or questions about the waiver, go to IRS.gov/newsroom.