WV farmers get tax filing extension - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

WV farmers get tax filing extension

Posted: Updated:
  • BusinessBusinessMore>>

  • Union workers at Frontier OK 3-year contract

    Union workers at Frontier OK 3-year contract

    Monday, September 1 2014 12:17 PM EDT2014-09-01 16:17:18 GMT
    The new contract will expire in August 2017. It covers about 1,500 employees in 42 West Virginia counties.
    The new contract will expire in August 2017. It covers about 1,500 employees in 42 West Virginia counties.
  • Shale activity spurs WesBanco growth

    Shale activity spurs WesBanco growth

    Monday, September 1 2014 10:00 AM EDT2014-09-01 14:00:29 GMT
    Managing growth has been a problem for some companies in the shale gas region of West Virginia, leading WesBanco to provide services to help them.
    Managing growth has been a problem for some companies in the shale gas region of West Virginia, leading WesBanco to provide services to help them.
  • WV workforce lacks oil and gas expertise — for now

    WV workforce lacks oil and gas expertise — for now

    Sunday, August 31 2014 5:00 PM EDT2014-08-31 21:00:19 GMT
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.

Farmers in West Virginia will have an extra month and a half to file their taxes, the state Tax Department announced.

Acting State Tax Commissioner Charles O. Lorensen said the department is extending the deadline for farmers to file their personal income taxes from March 1 to April 15.

Lorensen's decision follows an Internal Revenue Services announcement that it would provide relief from the estimated tax penalty for farmers unable to file and pay 2012 taxes by the original March 1 deadline.

According to a new release from Lorensen's office, 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, which was due Jan. 15.  However, if the taxpayer did not pay by Jan. 15 but files the return and pays the tax due by April 15, he or she will not have to pay a penalty. If the return and payment of tax is received after April 15, estimated penalties will apply.   

"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.

Forms, instructions and contact information are available at www.WVTax.gov and www.IRS.gov.