 Into the revenue service RIS tax news farmers and fishers face March 1st tax deadline Oh, no deadlines are bad news for fishermen. You need a live line if you're gonna get paid The fishermen looked at the deadline and the deadline looked back at him And they both knew it was time to reel it in or pay the consequences But seriously farming and fishing are tough jobs, especially as you get older However, with some jobs, it seems you just get better with age That you know, it's it's the age question which there are some people who are at their best in their 80s My mom was using a chainsaw and doing her best work in her 80s I'm telling you imagining Joe Biden with a chainsaw is almost as scary as watching him with the US economy It's horrifying. It's horrifying. I mean honestly and the next election Are they really gonna try to John Fetterman this guy into the White House again? What do you think the biggest cause of inflation is and should the Biden administration be doing more? No, I just do I think that simply is also we have this talk about the trillions in massive tax Tax cuts to the corporate tax structure is well true. It's like I mean come on man Anyways, although apparently Joe Biden is in his prime you retire to Not me. I'm in my prime Yeah, you look it James Bond. It seems is not you see Sensitivity editors are updating James Bond books, but don't worry. I'm sure they'll keep your favorite lines like My name is Bond James. He him bond Honestly, honestly like like dressing up James Bond with the new modern Sensitivities thought up like five seconds ago is like putting large prosthetic boobs on a bull It's it's not an improvement and whoever thinks it is I'm guessing those are the ones who may benefit from my head examination What what what's that Phil? You can't wait until the sensitivity editors fix JK Rawlings Harry Potter books Because the language she used is totally outdated and insensitive for modern audience it what What are you talking about Phil JK Rawlings is still alive for crying out loud She's right over there and like anyone else. She has every right to say anything. She dang well pleases Oh, I I see Phil Harry Potter must die What what what are you Voldemort? Oh crap? I've been sensitivity edited Honestly, like it like like in Harry Potter. You couldn't say that one dude's name But but in our world, it's way worse man Like the Voldemort's have banned all kinds of stuff around here I'm telling you and and and why is it they always banned the only thing that's really worth talking about? truth I Are 2023-34 February 28th 2023 Washington the internal revenue service today reminded businesses with income from farming or fishing That have not already made their estimated tax payments to file and pay their entire tax due on or before Wednesday March 1st 2023 that is The deadline Taxpayers can pay from their bank account using their online account There's a link to that here or they can schedule payments in advance using IRS direct pay Farmers and fishers who did not pay all their 2022 estimated taxes by January 17th must file their 2022 tax return and pay the entire tax due by March 1st Only those that have paid their estimated tax payments by January 17th can file by the regular April 8 18th deadline and avoid estimated tax penalties This special rule generally applies when income from farming or fishing makes up at least two-thirds of the total gross income in either the current or the Proceeding tax year special rules for disaster areas Disaster area taxpayers including the farmers and fishers have more time to file and pay currently taxpayers in most of California and parts of Alabama and Georgia have until October 16 2023 to file their 2022 return and pay any tax due This extension is automatic Taxpayers don't need to file any paperwork or call the IRS to get it like other taxpayers Those in a disaster area who need more time can request a tax filing extension visit irs.gov forward slash Extensions for details. There's a link to that here paying online is safe fast and easy They like you to pay online the IRS does so they're gonna assure you here make you feel comfy So online account There's a link to that here allows individuals to make same-day payments from a checking or savings account Taxpayers can also see their payment history balance and payment plan information and digital copies of certain notices sent from the irs Taxpayers can use irs direct pay There's a link to that here to schedule payments from their bank account for their tax deadline with no registration or log in required Those who want to pay business taxes should enroll in and use the electronic federal tax payment system Otherwise known as the EFTPS There's a link to that here for more information about these and other payment options visit irs.gov Go forward slash payments. There's a link to that here forms and publications to use farmers You're gonna use the schedule F generally form 1040 profit or loss from farming to report income and expenses There's a link to that here. You got the schedule se self-employment form 1040 self-employment tax There's a and to figure employment tax if net earning from farming are $400 or more which I hope they are for you and then see topic number 554 self-employment tax Publication 225 farmers tax guide and agriculture tax center for more information There's a link to that here for the fishers out there the fisher people the fishermen use schedule C form 1040 profit loss Normal kind of business schedule here from business sole proprietorship to report income and expenses And then you've got the schedule se once again form 1040 self-employment tax There's a link to that here to figure self-employment tax if net earnings from fishing are 400 or more And I hope they are for you. I hope they're well over that threshold see publication 334 tax guide for small business for commercial fishers who files schedule C There's a link to that related items We also have down here for fishers and farmers operating as a partnership or corporation You could see publication 541 partnership or publication 542 corporations links to those for information on estimated tax You could see publication 505 tax withholding an estimated tax and tax topic 416 farming and fishing income links to those publication 5034 English and Spanish need to pay a payment make a payment they make that one available in all kinds of languages They want to make sure no one can claim not understanding that one So you could check that out for filing information on the quarterly federal excise tax for manufacturers of sport fishing equipment You could see publication 510 excise taxes and form 720 quarterly federal excise tax return a lot of stuff to click on here A lot of just in depth and interesting reading material so you can check it out There'll be a link to this in the description