The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
The IRS announced today that they are now accepting all 2012 related tax forms. Since it seems like we have had 100s of tax returns backing up in our office waiting for this announcement, this is welcome relief for CPAs and other tax preparers. One of the negatives we are now certain to get multiple calls asking where their return is. Even though the return might be done, it still needs to be processed and this may take a couple of extra days, but the major pain of waiting for forms is behind us.
Therefore, for any farmer who had to wait until today to file can automatically wait until April 15 to file and pay their tax due.
With the Sequester going into effect on Friday, the IRS also announced that many of their services will be cut by at least 5% for the remainder of the government's fiscal year (ending September 30, 2013). This most likely means that almost any phone call to the IRS will not be answered in a timely manner. Most of my recent experience with any phone call to the IRS is a wait of at least 45 minutes or getting hung up on. I do not see this getting any better until the Sequester is resolved.
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