Guidance for Special Types of Businesses
Rules for Businesses in Certain Industries/Market Segment Specialization Program Guides
(MSSP)/Market Segment Understandings (MSU)
Farming
Special Estimated Tax for Farmers
When you must pay estimated tax and file your return depends on
whether you receive at least two-thirds of your total gross income from farming in the
current or prior year. Gross income is not the same as total income, shown on line 22 of
Form 1040.
Gross
Income
Gross
Income From Farming
Percentage
From Farming
Figure
2-A Estimated Tax for Farmers
Important References:
Publication
225 Farmer's
Tax Guide
Publication
505 Tax Withholding and Estimated Tax
Form
1040 ES Estimated Tax For
Individuals
Form
2210-F
Underpayment of Estimated Tax by Farmers and Fishermen