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Farmers given extension to avoid interest on underpayment
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MADISON - The Wisconsin Department of Agriculture, Trade and Consumer Protection and the Wisconsin Department of Revenue announced that farmers who choose not to make quarterly estimated tax payments will not be subject to interest on underpayment of estimated tax if they file their 2012 Wisconsin income tax return and pay the full amount of tax due by Monday, April 15. The customary deadline for Wisconsin farmers to file their 2012 Wisconsin income tax return and pay tax without facing underpayment penalties is March 1. The extension is in response to the January enactment of the federal American Taxpayer Relief Act.