 Internal Revenue Service IRS tax news. IRS reminds those with farming, fishing, businesses of March 1st tax deadline. But first, an attempt at a joke, I apologize in advance. Because we're so familiar with the way politics works, we no longer see that politics works in a particular way, namely, a self-interested and dishonest one. Or perhaps, because we're so familiar with the way politics works, we become numb to the fact that politics works in a particular way, namely, a self-interested and dishonest one. But wait! I thought it was those evil business people who were the self-interested greedy ones in the world. I agree, that can be, but there are many business people out there that don't include that last bit. You know, the one about being dishonest? Some are, but in a competitive market honesty is actually valued, holding greedy business people in check at least a bit. Business people usually become corrupt when they get big enough to mingle and influence politics, leading to the question, did the business people corrupt the politicians or vice versa? Does it matter? I don't know. What I do know is that a selfish and even greedy business person honestly and clearly stating that they intend to make money by providing a proposition to produce goods and services is far better than a politician making money under the table as a quote, public servant, in quote, a public servant whose interest is clearly in serving only themselves. Politics is not likely to change, but the sides of the political realm can be reduced, centralized government being like a kitchen full of too many cooks or possibly a more apt metaphor, a carnival with too many clowns. There is a point of diminishing returns, one which we've long passed. IR 2022-39, February 17, 2022, Washington. The Internal Revenue Service today reminded those with income from a farming or fishing business they should file and pay their entire tax due on or before Tuesday, March 1, if they did not make estimated tax payments. 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, there's a link to that here. Farmers and fishers who decide to forgo making estimated tax payments have the option to pay the entire tax due on or before March 1. Normally the special rule applies when income from farming or fishing made up to at least two thirds of the total gross income in either the current or the preceding tax year, those opting to file by the regular April 18 deadline should have made an estimated tax payment by January 15 to avoid an estimated tax penalty. More information on estimated tax, see publication 505, tax withholding and estimated tax, there's a link to that here. Those in the farming business report income and expenses on Schedule F form 1040 profit or loss from farming. There's a link to that here. Additionally, they use Schedule SE form 1040 self-employment tax, there's a link to that here to figure self-employment tax if their net earnings from farming are $400 or more. For more information refer to topic number 554, Publication 225, Farmers Tax Guide, there's a link to that here and Agricultural Tax Center, there's a link to that here. Those in the fishing business report income and expense on Schedule C form 1040 profit or loss from business, sole proprietorship, there's a link to that here. They also use Schedule SE form 1040 to figure self-employment tax if their net earnings from fishing are $400 or more. For general information about the rules applying to individuals including commercial fishermen who file Schedule C refer to Publication 334, Tax Guide for Small Business, there's a link to that here. Those who trade or business is a partnership or corporation, you could see Publication 541, partnerships or Publication 542 corporations, there's links to that here. Pay online is safe, fast and easy. Online account allows individuals to make same-day payments from a checking or saving account. Taxpayers can view up to five years of their payment history, any pending or Schedule payments, balance and payment plan information and digital copies of certain notices from the IRS. They can also view their adjusted gross income from their most recent tax return, their economic impact payment amounts and their advanced child tax credit payment information. Taxpayers can use IRS direct pay to schedule a payment from their bank account for their tax deadline with no registration or login required. Those who want to pay business taxes should enroll in and use the electronic federal tax payment system, otherwise known as EFTPS. There's a link to that here. For more information about these and other payment options, visit IRS.gov forward slash payments. There's a link to that here. There's more links related links down below. Tax Topic 416, Farming and Fishing Income, Publication 503, Forward Need to Make a Tax Payment, English and Spanish. There's links all over the place here to wonderful reading material for your reading pleasure and enjoyment. And there'll be a link to this in the description.