The IRS announced Friday the agency will waive the normal estimated-tax penalty for farmers and fisherman unable to file and pay their 2012 taxes by the March 1 deadline.
The agency will issue guidance to waive the penalties due to the delayed start for filing tax returns.
Sen. Charles Grassley, R-Iowa, had written the IRS earlier this week asking for the waiver. The filing delay was due to Congress and President Barack Obama failing to come to terms on income-tax increases until the last of December.
“This is good news," Grassley declared in a memo Friday. "Farmers shouldn’t face ...