W.Va. Farmers Get Tax Extension - WTRF 7 News Sports Weather - Wheeling Steubenville

W.Va. Farmers Get Tax Extension

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Mountain State farmers now have more time to get their taxes filed.

In Friday the State Tax Department extended the deadline.

According to Acting State Tax Commissioner Charles Lorensen: 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.

"We wanted to follow the IRS lead and help lessen the burden on these hardworking taxpayers," Lorensen said. "This relief applies to all farmers, not only those who must file forms that were released later than usual."

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.