Farmers: the March 1 rule that replaces estimated tax
If most of your income comes from farming, you can skip quarterly estimates entirely. The trade-off is an early deadline.
Most self-employed people pay estimated tax four times a year. Farmers and ranchers get a simpler option, as long as farming is the main source of their income.
Who qualifies
You qualify if at least two-thirds of your gross income comes from farming, either this year or last year. Gross farm income includes crop and livestock sales, custom hire and government payments.
Your two options
| Option | What you do |
|---|---|
| File early | Skip all estimates. File your return and pay in full by March 1. |
| Pay once | Make one estimated payment by January 15, then file by April 15. |
What we need by early February
- Sale receipts from the elevator and sale barn
- Your 1099-G for any government payments
- Crop insurance statements
- Equipment purchases and trade-ins
General information about federal and Kansas tax rules, not advice for your situation. Rules change; talk to your preparer before acting.
