Congressman Collin C. Peterson welcomes the IRS’ decision to provide a waiver for farmers and ranchers on the March 1st filing deadline. Peterson sent a letter to IRS Commissioner Charles Rettig requesting the waiver, which also allows producers to forgo making quarterly estimated tax payments. Peterson released the statement below:
“I wrote the IRS last week, following input from my constituents, and I am happy to see them respond well. Because of implementation issues with the Tax Cuts and Jobs Act, most notably the lack of guidance regarding Sec. 199A, coupled with the delay of Market Facilitation Program payments as a result of the government shutdown, many filers will be unable to meet the March 1 deadline. This is an opportunity for the IRS to work with farmers and ranchers to accommodate their unique tax needs.”
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